Dry CargoEurope

Pioneer Marine puts entire fleet up for sale

Dry bulk might have had its most solid start to the year in more than a decade, but one Greek owner opted to cash in its chips.

Oslo OTC-listed Pioneer Marine has decided to cash out of shipping, putting its entire handy fleet up sale, after which the company will be dissolved.

Pioneer Marine was founded seven years ago. Its fleet of 11 handy bulkers has an average age of 10 years, worth a combined $148.36m according to data from VesselsValue.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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