Greek owner Dalnave Navigation is selling it last bulker built before 2000.
US brokers said the Sumitomo Heavy Industries-built, 73,000-dwt Flipper (built 1999) has gone to a Middle East-based buyer for $6.3m.
The figure is lower than the $6.85m price tag that brokers put on the Mitsui Engineering & Shipbuilding-constructed, 77,000-dwt Energy Midas (built 1998), which was reportedly sold to Chinese interests with its special survey due.
VesselsValue says the Flipper is worth $7.4m, while Maritime Strategies International values it at $6.1m to $7.6m. The ship is due for special survey in March.
Profit before crash
Dalnave, which did not respond to a request for comment, purchased the Flipper as the Global Guardian from a Japanese owner for $17.3m in March 2002, meaning the panamax was profitable for Dalnave before the dry market crash in 2008.
In addition to the Flipper, Dalnave is listed with two kamsarmaxes and two ultramaxes. The 63,000-dwt Andromeda (built 2016) and Atlas (built 2017) were ordered at China’s Chengxi shipyard for some $25.5m each in 2013 and are now likely worth some $21m to $23m each.
The company made its first move in the newbuilding market in 2010, when it ordered two kamsarmaxes at Romanian-based Daewoo Mangalia Heavy Industries. The 81,000-dwt Naias and Pegasus (both built 2012) each had a reported price tag of $37m and are today likely worth about $19m.
Dalnave has in recent years disposed of a number of elderly ships. In February 2015, the 70,000-dwt bulker Myron N (built 1990) was sold for demolition.
