There may be some Valentine’s Day roses that outlasted Genco Shipping & Trading’s attempted sale of two older capesizes, a transaction reported by TradeWinds on 14 February.

The deal to offload the 169,025-dwt Genco Maximus (built 2009) and 169,001-dwt Genco Claudius (built 2010) to an unnamed buyer has been “terminated … due to the buyers’ breach of the agreements’ terms,” Genco said in a filing with US securities regulators this week.

Genco was to receive gross proceeds of $36.5m for the pair, minus commissions, but now will place the bulkers back on what has been a white-hot sale-and-purchase market.

“The company continues to market these vessels for sale in what it believes are favourable market conditions that may allow it to sell the vessels at prices above those previously agreed with the former buyers,” Genco said.

New York-listed Genco’s disclosure of the failed sale was made in a couple of footnotes to its annual report, which was filed on Monday and runs hundreds of pages.

A message seeking further details from Genco management was not returned by TradeWinds’ deadline.

Genco said in its fourth-quarter earnings report that it was saving a combined $10m in dry-docking expenses as the two units were facing their third special surveys this year.

Genco said in November that it was considering selling some of the smaller capesizes in its fleet, having booked a $28.1m impairment charge for them during the third quarter.

The Genco Maximus was among these vessels, alongside the 169,098-dwt Genco Commodus (built 2009) and 169,025-dwt Genco Hadrian (built 2008).

Genco on 14 November reached an agreement to sell Genco Commodus for $19.5m less commission, and that sale was completed on 7 February, filings state.

This transaction was its first vessel sale in two years.

At the same time, Genco has been renewing its fleet and acquired two 2016-built capesizes in November for $43m each.

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“They are probably worth $50m today,” CEO John Wobensmith said on Genco’s earnings call. “That’s quite an increase in a month and a half. It’s very hard to find capesizes and highly efficient eco vessels, which is what we’re focused on.

“I’d call it a little bit of a frenzy, to be quite honest with you,” Wobensmith told analysts.

“There is a flurry of activity in the capesize sector, and the smaller, midsized vessels are flying off the shelf as well.”