Dry bulk owner Courage Marine has sold a 48,000 dwt handymax for $5.25m cash to scrapyard Milliford DG Corporation, Seatrade Asia online reports. MV Zorina, with a net asset value of about $8.33m as at 30 September 2011, will be delivered to the buyer between 8 October to 25 October. “The directors currently expect that the completion and delivery of MV Zorina will take place on or about 10 October 2011,” Courage said in a statement. The bulk carrier was acquired by Courage at approximately $16m in 2008
The vessel disposal allows Courage to generate cash to be used for general working capital and for funding any future acquisition of further vessel when suitable opportunity arises, the company said.
The vessel disposal allows Courage to generate cash to be used for general working capital and for funding any future acquisition of further vessel when suitable opportunity arises, the company said.