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Gestion Maritime sells its oldest bulker

Monaco-based Gestion Maritime has sold the eldest bulk carrier in its fleet. According to some information coming from broker sources, the 2002-built panamax named Matilde Corrado will be offloaded to the South Korean Sinokor Merchant Marine for a price close to $4.8m. Sinokor has been very active of late eyeing secondhand tonnage.

The deal has been confirmed to Splash by Danilo Fumarola, ceo of Gestion Maritime, even if he did not disclose the identity of the buyer.

“I can confirm the Matilde Corrado has been sold to Korean buyers,” he said, adding: “This sale is part of our ongoing project aiming at a fleet renewal based on selling older tonnage and buying new ones, either bulk carriers or tankers. We experienced a small recovery in dry bulk secondhand asset prices in the last few months.”

Talking about possible new investments Fumarola added: “On the newbuilding market the prices are historically low as many interesting opportunities are emerging. That’s the best possible scenario for a company like Gestion Maritime interested at building up a long-term business in shipping.”

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Nicola Capuzzo

Nicola is a highly qualified journalist focused on transport economics, logistics and shipping with broad experience in both online and printed media. Specialties: shipping, ship finance, banking, commodities and port economics. He regularly interviews Europe's top shipowner executives for Maritime CEO magazine.
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