Dry CargoGreater China

Noble Group sells another kamsarmax to Transmed Shipping

Hong Kong commodity trader Noble Group has entered into an agreement with Greek owner Transmed Shipping for the sale of 2015-built kamsarmax bulker Ocean Forte.

The disposal price for the 81,615 dwt vessel is $23.79m, with Noble saying the sale will result in a net profit of $0.3m.

Noble Group has been working to offload its kamsarmaxes since Novermber last year as part of the company’s ongoing restructuring process. The company sold the 2015-built kamsarmax bulker Ocean Vision to Transmed Shipping in April and another kamsarmax bulker Ocean Integrity to Primrose Shipping in March.

In April, Goldilocks Investment, the third largest shareholder in Noble Group, launched two more lawsuits against Noble seeking to stop the company’s restructuring support agreement.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
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