Hong Kong-listed Courage Marine had inked an agreement with the buyer Universal Ship Investment Corp in February 2017 on the sale of the 57,000-dwt bulk carrier Zorina at a price of $7.35m.
The HKSE subsequently informed the company that it “would not have a sufficient level of operations or assets of sufficient value to warrant a continued listing of the shares of the company on the Hong Kong Stock Exchange (…) and would result in a trading suspension of the shares” if the vessel disposal deal is to proceed.
In response, Courage Marine is now in talks with the buyer to look into other alternatives including a possible termination of the transaction.
At present, the dry bulk shipowner is left with two 57,000-dwt ships – Zorina and Heroic.
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