Courage Marine sells panamax

Dry bulk shipping firm Courage Marine has sold a 1984-built 66,741 dwt bulk carrier Courage for $4.34m, Seatrade Asia online reports. The panamax vessel is expected to be delivered to the scrap yard between 13-30 June. The vessel was acquired by Courage Marine in 2003 at approximately $4.4m.

“The disposal is for demolition and this provides a good opportunity for the group to generate cash which is intended to be used for general working capital and for funding any future acquisition of further vessels when suitable opportunities arise,” Courage Marine said.