Taipei-listed tanker and bulker player Sincere Navigation has sold its last supramax.
In March, it sold the 12-year-old supramax, Georgiana, for $9.9m to Xiamen ITG. Now, multiple brokers report that Sincere is selling a one-year-old sister ship, Madonna III, for significantly more, fetching $11.6m. No taker has been attached to the ongoing deal.
Sincere’s bulk fleet is left with nine capes and two kamsarmaxes with an average age of 12 years.