Theodore Veniamis-led Golden Union is continuing its secondhand capesize buying spree. The company is said to have acquired the 180,000 dwt bulker Cape Frontier from Japanese owner Shoei Kisen.
According to broking sources, the 11-year-old vessel sold for $17.93m.
In February, Golden Union took over baby cape Hanjin Buchanan from bankrupt Hanjin Shippng and nine-year old cape Shin Zui from Shoei Kisen.
Golden Union currently has a fleet of more than 40 bulkers, and an additional three newbuildings under construction at Chinese yards.