Japan’s Daiicihi Chuo has sold the six-year-old handysize Coral Ocean to Istanbul-based handysize player Canbaz Shipping for $ 14m, a price perfectly in line with MSI’s fair market value of $14m.
The ship will be the Turkish player’s first purchase in a couple of years. It has already been renamed Orcun C.
.Canbaz manages a fleet of nine ships with an average age of nine years. Its activity in the handysize segment with ships above 30,000 dwt started in 2016. The company was established in the early 1980s as part of a construction company by Behcet Canbaz and his three sons.
