Belgian capesize giant Bocimar has secured a firm price for one of its elderly vessels.
Bocimar chief executive Benoit Timmermans confirmed the 171,000-dwt Mineral China (built 2003) had been sold.
Brokers in Europe said the Hyundai Heavy Industries-built ship has gone for $14m to a South Korean buyer, with a three-year charter back to Bocimar at an undisclosed rate.
Profitable investment
For Bocimar, the Mineral China has been a profitable investment. The ship was purchased in September 2003 for $45m and fixed on a five-year time charter to Navix Line at $20,500 per day.
The Mineral China was not the only recent sales candidate in the CMB subsidiary’s fleet.
In October last year, Bocimar put the 177,000-dwt bulker Mineral Oak (built 2010) up for sale, but it remains unsold. The vessel is owned on a 50:50 basis with Canada’s Oak Maritime.
But the Antwerp-based shipowner has also been strengthening its position in the capesize segment.
Capesize quintet
In May last year, it struck a deal to acquire five capesizes from German owner Oskar Wehr in exchange for 12 handysize bulkers and a cash payment from Bocimar.
The company is one of the founders of Capesize Chartering, a leading spot player in the capesize segment with more than 60 ships set up in 2016 by four leading bulker owners.
