United Ocean Group sells fourth ship this year

United Ocean Group sells fourth ship this year

United Ocean Group (UOG), a tonnage supplier to Japanese owners, which sought court protection in Tokyo on December 31, continues to shed tonnage.

Greece’s Alpha Bulkers Shipmanagement has paid $17.7m to take the two-year old Imabari-built kamsarmax Ocean Lord. Earlier this year, UOG also sold another kamsarmax and two supramaxes.

Data from VesselsValue.com shows UOG’s fleet now stands at 33 live ships with two more on order.

The company, founded in 1995 by Indian national Vipan Sharma, filed at the end of last year, saddled by debts of more than $1bn.

Hans Thaulow

Hans Henrik Thaulow is an Oslo-based journalist who has been covering the shipping industry for the last 15 years. As well as some work for the Informa Group, Hans was the China correspondent for TradeWinds. He also contributes to Maritime CEO magazine. Hans’ shipping background extends to working as a shipbroker trainee with Simpson, Spence & Young in Hong Kong.

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