Financially-troubled Japanese dry bulk specialist Daiichi Chuo Kisen Kaisha has sold a 2010-built Capesize bulker and its remaining 15-year charter to compatriot NS United Kaiun Kaisha and its Panamanian subsidiary company for US$63.38m.

The 207,791dwt Katsura, currently in the sixth year of a 20-year charter contract for the transportation of raw materials Daichii signed with Nippon Steel & Sumitomo Metal Corporation in September 2010, is expected to be delivered to NS United in November 2015.

"In our three-year Medium-Term Business Plan, 'Unite & Full-Ahead! (Part II),' which was formulated in May 2014, we set a target of operating fleet volume to reinforce by 50 Capesize by the end of FY 2018. This is our most important Mid-Term Goals in addition to expanding a share of transportation for Nippon Steel & Sumitomo Metal Corporation. We believe that this acquisition will contribute to our Mid-Term Goals," NS United said in a statement.

Mitsui O.S.K. Lines (MOL), owner of 16.64% of shares in Daiichi, said it expects to record a JPY26.2bn (US$220m) loss in the first half of FY2015 after Daiichi applied for the start of civil rehabilitation proceedings on Sept. 29.