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Oriental Ocean Disposes of Bulker Trio

Oriental Ocean Disposes of Bulker Trio
China’s Oriental Ocean Shipping is decreasing its fleet as the company reached an agreement to sell two of its 2011-built Post-Panamax bulkers, according to data provided by VesselsValue.

The 93,100 dwt ships Welfine and Welprofit, which were sold to an undisclosed Greek shipowner, fetched a price of USD 17 million each, slightly over their market value of USD 16.2 million and USD 16.3 million respectively.

Featuring a length of 229 meters and a width of 38 meters, the bulkers, which were constructed by China’s Jiangsu New Yangzijiang, became part of Oriental Ocean Shipping’s fleet in June and September of 2011.

In mid-March, the company also entered an agreement to sell its 2010-built bulker Welsuccess to an unknown South Korean owner for a price of USD 15.3 million.

Following the completion of these proceedings, Oriental Ocean Shipping’s fleet will consist of only two Post-Panamax bulk carriers, VesselsValue data shows.

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