Noble Group Offloads One More Kamsarmax

  • Business & Finance

Hong Kong-based commodities trader Noble Group has entered into a sale deal with Fairmyl Shipping Limited and Transmed Shipping Limited for a Kamsarmax dry bulk carrier vessel.

The company will cash in USD 23.4 million from the vessel sale which is expected to be completed by September 30, 2018.

The net proceeds from the sale after payment of relevant mortgage facility will amount to approximately USD 8.2 million, Noble said.

The vessel is 2014-built Ocean Ambition, flagged in Hong-Kong. The 81,616 dwt bulker is employed to service external customers as well as Noble Group’s internal freight requirements.

Following the completion of the proposed disposal, Noble Group intends to charter back the vessel on a time charter basis.

The ship is part of a quartet Noble put up for sale in November last year hoping to raise a total of USD 95 million in order to cut debt.

The ships also include 2015-built Ocean Forte, 2015-built Ocean Integrity, which was sold in March  and 2015-built Ocean Vision sold in April.

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