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.