Vincent Shipping has sold a Japanese-built supramax that the company purchased four years ago.
The sale comes on top of steps by the Oslo-based bulker owner to renew its fleet with chartered vessels.
Shipbrokers said Vincent has sold the 55,000-dwt Vincent Genesis (built 2011) to an undisclosed buyer for $11.1m.
Chief executive Jan Lund confirmed that the IHI-built vessel has been sold, but he said the price was somewhat higher.
The reported price is relatively low for a Japanese-built bulker. UK-based valuation platform VesselsValue estimates the Vincent Genesis is worth $12.2m.
Last month, Vincent boosted its fleet from three to seven vessels by taking four kamsarmaxes from Nisshin Shipping on long-term charters, with purchase options.
The company was set up in 2016 by former Fearnleys veteran Lund together with former Torm chief executive Klaus Kjaerulff and Jan Bech Andersen, who was head of shipping at trader Glencore.
The sale of the Vincent Genesis demonstrates how vital timing can be for success in sale and purchase.
The vessel was purchased in April 2018 for $12.5m, and the company has said it was looking for asset play opportunities.
Meanwhile, low-profile Greek shipowner LA Maritime has reportedly struck better luck by selling a similar bulker.
The outfit has sold the 53,600-dwt Captain Cherif (built 2004) to an undisclosed buyer for $6m.
LA Maritime had purchased the Iwagi Zosen-built ship supramax for just just $3.7m in March 2016.
VesselsValue lists just one other ship in the company's fleet.
