Minoa Marine has emerged as the highest bidder from last week’s most popular bulker sale, adding its second post-Panamax.

The seller, Japan’s Mitsui OSK Lines (MOL), got $8.35m for the 15-year-old 88,200 DWT JP Magenta.

Athens-based Minoa Marine has timed the market well, taking over a ship at a time when the Baltic Dry Index has passed the 1,000-point mark for the first time this year.