Hong Kong commodity trader Noble Group has done another deal with Greece’s Transmed Shipping, this time selling 2014-built kamsarmax Ocean Ambition for $23.415m.
Noble says it plans to take the vessel back on a time charter, and sold it due to the current favourable market conditions. The sale price is $700k above the book value it holds on the vessel and over $400k above the average valuation.
Noble has been undergoing a financial restructuring and the Ocean Ambition is the third karsarmax sold to Transmed in as many months. It also sold a kamsarmax to Primrose Shipping in March.
Completion of the sale is expected to take place within the next two months.