Noble Group sells another kamsarmax to Transmed Shipping

Noble Group sells another kamsarmax to Transmed Shipping

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.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.

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