Athens-based S Bulkers is said to have struck a deal to dispose of a bulker at a profit, less than a year after buying it.
US brokers said the Dimitrios Souravlas-led shipowner has sold the 37,000-dwt Sea Bronze (built 2007) to a Vietnamese buyer for $11.5m.
While lower than the $12.3m estimate offered by VesselsValue, the company will still log a profit after having owned the the Saiki Heavy Industries-built ship for less than 12 months.
S Bulkers bought the vessel from Japan’s Keishin Kaiun for $9.5m in January, when it was the Gleaming Oasis.
The shipowner is listed with three handysize and two handymax bulkers with an average age of 13 years. All of the ships are built in Japan.
S Bulkers, which could not be reached for comment, also operates as a third-party manager.
Some observers suggest two of the five ships in its fleet are managed for other owners, while three vessels carrying an "S" prefix to their names are owned by the company.
Souravlas, who also leads tanker player Stalwart Management, set up S Bulkers in 2016.
The Sea Bronze is not S Bulkers' first stab at asset play. In September 2017, the company sold the 53,000-dwt bulker S Bravery (built 2002) for $9m.
The company had bought the vessel in November 2016 for just $4.8m.
