Hellenic Carriers sells old handymax bulk carrier

Hellenic Carriers sells old handymax bulk carrier

London: London-listed Hellenic Carriers has sold a 20-year-old handymax bulk carrier to an unnamed buyer for $3.8m.

Market sources say Greek buyers snapped up the Korean-built Hellenic Horizon (44,809 dwt, built 1995), which was sold through Hellenic’s subsidiary Arkadia Maritime Corp.

“Taking into account the vessel’s net book value and expenses related to the sale, the company expects to realise a net book loss of approximately $3.9m on this sale,” Hellenic said today. The company bought the vessel in 2007 from Union Maritime for $39m.

The carrier said the sale is part of its fleet renewal programme. Proceeds from the sale will be used to repay bank debt and strengthen the company’s balance sheet.

Holly Birkett

Holly is Splash's Online Editor and correspondent for the UK and Mediterranean. She has been a maritime journalist since 2010, and has written for and edited several trade publications. She is currently studying for membership of the Institute of Chartered Shipbrokers. In 2013, Holly won the Seahorse Club's Social Media Journalist of the Year award. She is currently based in London.

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