Chinese-owned Cara Shipping has quit the VLOC segment by selling its last two ore carriers to bulker giant Berge Bulk.

Multiple sources said the Singapore-based company has sold the 250,400-dwt Stella Daphne (built 2017) and Stella Isabel (built 2015) for $98m en bloc. The ore carriers were fitted with ballast water treatment systems.

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The acquisition of the two VLOCs marked the first sale-and-purchase transaction that Berge Bulk carried out this year, according to online database VesselsValue.