Dry CargoGreater China

Courage Marine offloads supramax bulker

Taiwan’s Courage Marine has entered into an agreement with Universal Ship Investment to sell 57,000 dwt supramax bulker MV Zorina.

The sale price for the vessel is $7.35m and it is expected to be delivered to the buyer before May 31, 2017.

Courage Marine said it will record a loss of approximately $114,000 on the disposal. The company intends to use the net proceeds from the disposal to repay the bank loan secured by the vessel.

Courage Marine believes that the operating environment of the dry bulk market has been very challenging and the vessel had been incurring operating losses for the last three financial years, and the disposal offers a good opportunity to release the company from incurring further cash outflow.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
Back to top button