The Kuwait-based gravel specialist Jawhrt Berlin has been in the market shopping for its first vessel, according to several informed broking sources.
The company has paid $3.8m for the 47,574 dwt Maratha Providence built in 1995.
The purchase fits the strategy of Jawhrt Berlin, which according to its website says it “seeks to acquire all elements, tools and means that enable it provide professional performance in its various business fields, by owning ships to transport gravel from outside Kuwait”.
The sale of the 20-year-old handy leaves Mumbai-based owner, Chowgule Steamships, with four other handysizes on its fleetlist.
