Thenamaris set to pocket over $8m on kamsarmax flip, China’s Mingsheng Financial Leasing is likely buyer

Thenamaris set to pocket over $8m on kamsarmax flip
Grant Rowles December 13th, 2018 http://maritimebulletin.net/2018/12/13/cargo-ship-aground-western-europe/

Greece’s Thenamaris is said to have sold 2012-built Daewoo kamsarmax bulker Seatribute for in excess of $20m to a buyer in Asia.

If broking sources are correct, Thenamaris stands to pocket over $8m from the sale having bought the vessel (ex Liberty Destiny) from US-based Liberty Maritime for a bargain $12m in March 2016.

Splash understands that China’s Mingsheng Financial Leasing is the likely buyer.

The vessel had been circulating for sale at $20.5m for some time. According to VesselsValue it has a fair market value of $20.54m, while MSI values it at $22.1m although predicts the value to drop to $20.8m by the next quarter.

The below graphic from VesselsValue shows Thenamaris timed its 2016 acquisition of the vessel to perfection, picking the very bottom of the market.