Thenamaris set to pocket over $8m on kamsarmax flip

Thenamaris set to pocket over $8m on kamsarmax flip

Greece’s Thenamaris is said to have sold 2012-built Daewoo kamsarmax bulker Seatribute for in excess of $20m to a buyer in Asia.

If broking sources are correct, Thenamaris stands to pocket over $8m from the sale having bought the vessel (ex Liberty Destiny) from US-based Liberty Maritime for a bargain $12m in March 2016.

Splash understands that China’s Mingsheng Financial Leasing is the likely buyer.

The vessel had been circulating for sale at $20.5m for some time. According to VesselsValue it has a fair market value of $20.54m, while MSI values it at $22.1m although predicts the value to drop to $20.8m by the next quarter.

The below graphic from VesselsValue shows Thenamaris timed its 2016 acquisition of the vessel to perfection, picking the very bottom of the market.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.

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