AsiaDry Cargo

Precious sells another bulk carrier

Precious Shipping has sold another bulk carrier to an unnamed buyer at a price of $2.35m as part of its fleet renewal programme.

The sale of the handysize  Urawee Naree (28,415 dwt, built 1997) was agreed with the Seychelles-incorporated buyer on August 2, Precious said in an exchange filing. The vessel was delivered on Friday.

It is not clear if the Japan-built vessel has been sold for demolition, but the option seems likely. So far this year, the Thai owner has sold 11 bulk carriers for demolition, all of which have been handysize bulk carriers built in 1997 or earlier.

Precious said its strategy is “to rejuvenate its fleet by selling its older vessels and acquiring younger and bigger vessels”.

The Bangkok-listed company has just two 1997-built handys remaining in its fleet.


Holly Birkett

Holly is Splash's Online Editor and correspondent for the UK and Mediterranean. She has been a maritime journalist since 2010, and has written for and edited several trade publications. She is currently studying for membership of the Institute of Chartered Shipbrokers. In 2013, Holly won the Seahorse Club's Social Media Journalist of the Year award. She is currently based in London.
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