Globus Maritime has sold its Panamax bulker Tiara Globe (72,928 dwt, built 1998) to an unnamed buyer for US$5.5m.

The rate is in line with market expectations, according to VesselsValue.com data.

The vessel is scheduled to be delivered to its new owners between June 20 and July 25.

"This transaction is in line with the company's strategy to prudently divest assets that do not fit the profile of its fleet and further strengthen its balance sheet. Upon the conclusion of this sale, the weighted average age of our fleet will be reduced from 8.5 years to 6.8 years," said Georgios K. Karageorgiou, president and CEO of Globus Maritime.

The two companies have signed a binding agreement for the transaction.