Athens-based handysize specialist Pioneer Marine has revealed the sale of four bulkers in its latest set of financial results.
Earlier this month, the company entered into agreements to sell the four vessels to unrelated third parties. The company says that delivery will be completed by the second quarter of this year, while full management of three of the vessels will remain under Pioneer Marine.
Jim Papoulis, chief executive officer of Pioneer Marine, commented: “The S&P market has also recently started to follow this improvement, and we are witnessing higher values for the head Owners interest. This is being predominantly driven by firm purchasing interest, with owners content to sit on healthy earnings. Taking advantage of the market momentum, subsequent to year end, in February 2021, we signed MoA’s to dispose four of our handies with delivery ranges beginning in March 2021 through May 2021.
“Looking ahead, we expect drybulk rates in 2021 will remain at very good levels due to the overall market strength as well as other important factors. Our first quarter 2021 fixtures reflect these rapidly improving market conditions, and we remain well-positioned and committed to continue to take actions which will serve our strategic targets of sustainable growth.”
No further information was given in regards which specific vessels were sold, and who the buyers were, however VesselsValue shows that the 2008-built Japanese handy Eden Bay has been sold for around $6.8m to unknown Egyptian buyers. The vessel is fitted with a BWTS, and has a dry-docking due in May 2021.
Pioneer Marine currently owns a fleet of 14 handysize vessels. The company reported a net loss of $14.5m in 2020.