Dry Cargo

Interlink scores profitable asset play with sale of another handy bulker

Paul Gurtler-led Interlink Maritime has flipped one of its bulk carriers, concluding the latest in a string of asset transactions. 

The Bermuda-based owner, which was linked to a number of sales this year, exercised an option to buy back the chartered handysize bulker Interlink Dignity, financed by Norway’s Ocean Yield.

Ocean Yield said in an Oslo Stock Exchange filing it had received gross proceeds of around $11.5m from the deal, resulting in a small book profit in Q2 2022. 

The 2015-built ship, estimated by VesselsValue as worth $24.8m, was subsequently sold to London-listed UK fund Tufton Oceanic Assets for $26.3m.

Tufton said earlier it had acquired the vessel at slightly above depreciated replacement cost but that the strong cash flows from its fixed rate time charter of four to six months would de-risk the investment. 

In related news, brokers Xclusiv, in its latest report, linked two further sales in the handysize sector to the Carlyle-backed outfit. The 2015-built Interlink Activity and its sister vessel, Interlink Priority, were offloaded to undisclosed buyers for 26.5m each.

Adis Ajdin

Adis is an experienced news reporter with a background in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.
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