Load Line Marine has lined up its second asset play in six months, sealing a solid deal in a challenging market.
Broking sources report that the Greek handysize expert is selling an 11-year-old handysize, the 33,000 dwt Penelope T, a Korean-built ship, for some $14m. One brokering report notes that the deal comes with a charter running until the first quarter of next year attached. George Souravlas-led Load Line added the ship for just under $9m in June 2021.
Six months ago, the 10-ship strong, pure breed bulker player flipped another handysize vessel, selling the 2013-built Eleftherios T for some $20m, a vessel it had originally bought for $15m.
This week broking reports are filled up with handysize and supramax sales candidates. Brokers report that the market is flooded with a surplus of semi-modern handysize and supramax bulkers ships being sent and resent. The longer they stay out there, the cheaper they will get, brokers advise.