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Precious Shipping sells elderly handysize bulker for $1.51m

Precious Shipping sells elderly handysize bulker for $1.51m
Dry bulk shipowner Precious Shipping has sold one 21-year-old handysize bulk carrier at a price of $1.51m.

The sale of the 1995-built, 29,503-dwt Fonthida Naree is in line with Precious Shipping’s strategy to “rejuvenate its fleet by selling its older vessels and acquiring younger and bugger vessels”, the company announced to the stock exchange.

It added that the price tag of $1.51m is “market price.”

The buyer’s name is not disclosed but it is incorporated in Singapore, according to Precious Shipping.

Last week, the Bangkok-based shipowner had sold another 1996-built handysize bulker, Mathawee Naree, at a price of $1.47m, and in February it sold two other 1997-built handysizes at respective prices of $1.01m and $1.08m.