Singapore-headquartered Grindrod Shipping Holdings has announced the sale of three tankers via two separate transactions.
The 2013-built MR2 tankers Leopard Moon and Leopard Sun have been sold for $21.4m each, with delivery expected by April 30. The vessels are valued at $21.52m and $22.18m according to VesselsValue, which lists the buyer as Norway’s Sole Shipping.
Grindrod has also contracted to sell 2009-built small tanker Breede for $6.8m, again with delivery scheduled by April 30.
The sales leave Grindrod with 15 handysize bulkers and 16 supramax/ultramax bulkers, along with one MR product tanker currently out on bareboat charter.
Martyn Wade, CEO of Grindrod Shipping, commented: “We are very pleased to announce the sales of our last three spot trading product tankers for an aggregate gross amount of $49.6m. These sales will enable us to significantly reduce our debt and interest expense while positioning the company to further focus on our core handysize and supramax/ultramax drybulk segments which are currently enjoying strong freight market conditions.”