US investment firm JP Morgan has added another bulker to its fleet according to brokers, snapping up the 2017-built newcastlemax Conrad from Greece’s Oceanbulk.
Clarksons and Advanced Shipping & Trading are both reporting the deal, with Clarksons placing the price at $53m and Advanced $55m. According to VesselsValue, the SWS-built ship has a market value of $58.77m.
The Conrad is the second bulker added by JP Morgan in as many months, with brokers reporting a $45m deal with Germany’s Oldendorff Carriers for 2016-built capesize bulk carrier Hark Oldendorff.
Oceanbulk, controlled by Petros Pappas, will be left with a fleet of eight bulkers on completion of the deal.