Sinokor Merchant Marine of South Korea has sold three newcastlemaxes to compatriot Pan Ocean.
Sinokor has pocketed $213m from the sale of three 2020-delivered sister ships, the 208,000 dwt Atlantic Dragon, Atlantic Lion and Atlantic Tiger. Sinokor ordered the ships back in 2018 for $51m each and has managed to sell them on for $71m each.
Pan Ocean also recently bought another newcastlemax, the 10-year-old Pacific Assurance from OMC Shipping.
Newcastlemaxes have been changing hands this year in record volumes at hugely elevated prices.
