Low profile Chinese owner Royal Marine Holdings is selling its post-panamaxes.
Despite falling prices and Covid-19 , Royal Marine is determined to sell and focus on its woodchip carrier fleet.
Sources say the two 88,300 dwt Imbari built vessels, 2004-built Royal Forward and 2007- built Royal Award, are for sale.The most modern of the two was bought for $6.8m at the beginning of 2016 while the three-year older sister ship was bought for $600,000 less according to data from VesselsValue.The ships are now valued at $9.06m and $6.96m in the VesselsValue database. A third ship was also put up up for sale this week, Royal Marine’s most modern panamax, the CSSC-built 82,000 dwt Venus.
After the upcoming sale, the outfit will be left with a handful of modern woodchip carriers.