Chinese shipping giant Sinotrans has acquired three kamsarmaxes from Zhejiang Materials Industry (ZMI), according to brokers.
Yangfang-built Ocean Libra (built 2013), Ocean Scorpio (built 2013) and Ocean Virgo (built 2012) were originally linked to Greek buyers in March, reportedly Times Navigation, for around $18.5m each however the deal was not concluded.
VesselsValue data shows that a new deal for the vessels was done late August, and broking sources tell Splash that Sinotrans is behind the acquisition at around $17.5m each. MSI puts the fair market value of the ships around $18.5m, although its understood the condition of the vessels reflects the lower price.
The sale marks a long drawn-out exit from shipowning for ZMI, part of Wuchan Zhongda Group, who specialise in the iron ore and steel products trade.