Nicholas Vafias has completed a stealthy dry bulk asset play.
The Vafias family controlled company had made a couple of cape acquisitions in March this year, just as dry bulk assets started to climb.
Sources tell Splash South Korea’s Sinokor has paid $14.5m per ship for the 10-year-old, 177,000 dwt Namura-built Monegasque Eclat and $14.5m for the eight-year-old, Daehan built, 169,000 dwt Tigerlily. Splash estimates the Vafiases pocketed around $7m from this quick asset play.
Sinokor has been aggressively building up its bulk fleet in recent months.