Australian livestock shipping firm Wellard has sold a 2010-built ship to Israel’s Dabbah Slaughterhouse for $26m. Much of the proceeds will go to pay down debts.
The livestock vessel, Ocean Outback, can transport 6,000 cattle and 25,000 sheep, or a combination of both and is one of a fleet of five owned and operated by Wellard.
Wellard CEO Mauro Balzarini admitted 2017 has been “a very tough year” for the company. Wellard is pushing ahead with an A$53m capital raising program.
Last month, China’s Fulida became Wellard’s top shareholder.