Dry CargoEurope

Wilson opts to sell rather than dry dock another bulker

Norway’s Wilson ASA has sold its 38-year-old small bulk carrier Wilson Malo to Romanian interests for $750,000.

Wilson Malo was due for dry docking in November but the company said it decided not to go ahead, owing to the vessel’s age.

The sale has generated an accounting gain of €150,000 ($163,900) on the vessel’s book value, the proceeds from which will be used to pay off debt on the vessel.

Subsequent to the sale, Wilson will operate a fleet of 111 ships, of which 81 are owned by the Oslo-listed company.

Since July 2015, Wilson has sold three other small bulkers, each of which were over 30 years of age and due to undergo dry docking. The vessels are Wilson Marin (5,850 dwt, built 1978), Wilson Fjord (3,874 dwt, 1977) and Wilson Bar (6,105 dwt, built 1979).

Holly Birkett

Holly is Splash's Online Editor and correspondent for the UK and Mediterranean. She has been a maritime journalist since 2010, and has written for and edited several trade publications. She is currently studying for membership of the Institute of Chartered Shipbrokers. In 2013, Holly won the Seahorse Club's Social Media Journalist of the Year award. She is currently based in London.
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