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Nova Marine Carriers flipping bulker for handy profit

Lugano-based Nova Marine Carriers group is expected to make a profit from the sale of one of two 2011-built handysize bulk carriers bought just six months ago.

Broking sources report this week that the Sider Boston is being sold to an unidentified Greek buyer for some $10m. MSI places the fair market value of the ship at  $11.3m.

The ship was purchased last spring by Romeo-controlled Nova Marine Carriers en block with the sister ship Sider Miami for a total of $17.5m, generating a profit of $1.25m if the $10m sale price is confirmed.

Sources familiar with the deal confirmed to Splash that negotiations for the sale are in a very advanced stage.

Nicola Capuzzo

Nicola is a highly qualified journalist focused on transport economics, logistics and shipping with broad experience in both online and printed media. Specialties: shipping, ship finance, banking, commodities and port economics. He regularly interviews Europe's top shipowner executives for Maritime CEO magazine.
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