Denmark's Clipper Group has emerged as the buyer of the four 32,000dwt Handysize bulk carriers sold last week by its compatriot D/S Norden.
The vessels include Nord Hong Kong, Nord Houston, Nord London and Nord Vancouver and they will join the company's fleet during the next four months.
The four bulkers were built in 2011 at Chinese shipbuilder Jiangmen Nanyang Shipyard (JNS).
The Handysize bulk carriers feature logs and grabs fitted and will enter the Clipper Logger Pool, according to the company.
"We are extremely pleased to have had the opportunity to add four modern handysize vessels to our fleet and into our Logger Pool," said Clipper's Group CEO Peter Norborg.
Clipper said it will commercially as well as technically manage the vessels.
The bulk carriers have been added to Clipper's internal technical management division, Clipper Fleet Management.
The company's Logger Pool presently consists of 31 vessels, whereof eight are controlled by Clipper and 23 are third party's vessels.
Jinhui Shipping and Transportation Limited has confirmed the sale of 2000-built supramax Jin An to UAE-based Al Khalejia Aggregates for US$3.4m.
Delivery of the 50,786dwt vessel is scheduled for between July 15 and and August 31, with Jinhui expecting to book in a loss of approximately US$4m on the sale.
Jinhui cited the prevailing market conditions as the reason for the sale, which will help enhance its working capital position and strengthen liquidity. Last month, the company revealed it had initiated restructuring arrangement discussions with lenders, with an update due this month.
German shipowner and operator Oldendorff Carriers has expanded its fleet with four second-hand vessels bought from Italy-based shipowner Societa Navali Unite Genova Srl (SNUG), show data provided by VesselsValue.
The four bulk carriers in question, which were sold en bloc, are the two Post Panamax bulkers Asti Snug and Roma Snug, and the two Handysize bulkers Karoline Snug and Lucy Snug.
The 118,000dwt Post Panamaxes, which were built in 2011 by China's Zhejiang Shipbuilding Co, were sold for US$11.9m each.
Featuring 33,300 dwt, the 2010-built Handysizes were acquired for a price of US$5.1m each. The two vessels were constructed by the Chinese shipbuilder Yangzhou Ryuwa Shipbuilding Co.
Oldendorff Carriers currently operates a fleet of some 500 vessels with a total of 45 million dwt.
The company's operated fleet includes Capesizes, Panamaxes, Ultramaxes, Handysizes and other vessels.
Greek dry bulk operator FreeSeas has announced that the bareboat charter agreement in connection with handysize bulker Fiorello has been terminated.
Subsequent to the termination, the 1995-built was sold with the sale proceeds being applied towards obligations to the bareboat owners of the vessel and trade creditors.
In May, FreeSeas sold the vessel along with a sister vessel to an undisclosed party for US$5.5m and chartered them back on a long term bareboat agreement.
As a result of the transaction, FreeSeas said that its outstanding obligations to the owners have been reduced by US$750,000.
Norwegian dry bulk owner Wilson has sold the 30-year-old bulker Wilson Riga to an unspecified Albanian company for its book value of US$520,000. The ship was facing an imminent dry docking and Wilson thought that the expense involved was not worth it given the ship's age.
Wilson now operates a fleet of 113 ships of which 80 are owned.
This is the fifth time in 11 months that Wilson has got rid of an elderly ship facing a drydocking.
Denmark-based Norden continues its strategy to offload its larger bulker carriers by selling its last four owned post-panamax vessels.
The sale leaves the company with just four post-panamaxes, all chartered in, as it looks to focus solely on handies and panamaxes in the dry bulk sector.
The four vessels sold, Nord Delphinus, Nord Dorado, Nord Pisces and Nord Pyxis, will see Norden suffer an accounting loss of US$16m.
Norden said that proceeds from the sale will be reinvested in Supramax and Panamax vessels.
Hong Kong owner Fenwick Shipping has offloaded its oldest ship. The low profile outfit sold the 16,900dwt Ma Cho, built in 1997, for some US$1.6m.
The conservative handysize specialist is owned by Antony Louis Marden and Oistein Harmens Thorsen.
The bulk player stayed loyal to its segment over the years focusing on operating a string of grab-fitted small handysize dry bulk carriers concentrating on the Asia and Oceania regions.
Malaysian Bulk Carriers (Maybulk) has put two bulk carriers for sale, Malaysian local media The Edge has reported.
According to industry sources, Maybulk is now in talks to sell 87,000dwt Alam Padu and 53,000dwt Alam Muni, hot on the heels of the reported sale of 87,000dwt bulker Alam Pesona for US$6.8m to Greek shipowner Navitas Compania Maritima.
In March, Maybulk suffered its first-ever annual loss, reporting a loss of MYR1.18bn (US$282.14m) for the year of 2015.
"2016 is expected to be yet another challenging year for dry bulk shipping. Looking forward, China's seaborne coal imports are expected to decline further in 2016. The increase in demolition activity, reduced dry bulk deliveries and increasing lay-ups should help to reduce tonnage overcapacity," the company said.
Hong Kong bulker specialist Chellaram Shipping has finalized the purchase of 60,000dwt Aby Paola for US$19.5m. This is the reported first bulk purchase by the conservative Hong Kong owner in years.
The sale appears to be good deal for the seller as VesselsValue.com sets the market value at US$16.72m for the one-year-old ship.
The seller ABYO is a joint venture between York Capital Management, Augustea, Bunge and Oceanbulk.
Hanjin Shipping has sold a six-year-old capesize, Hanjin Saldanha Bay, for US$38m to H-Line Shipping as part of efforts to raise cash for urgent debt repayments.
H-Line Shipping is owned by South Korean private equity firm Hahn & Co, which bought most of Hanjin's LNG and dry bulk businesses two years ago.
Hanjin, which has just entered restructuring, is looking to sell off all its remaining bulk carriers and container terminals as well as renegotiate fees for its chartered in box fleet in order to stay afloat.