Taylor Maritime Investments (TMI) is said to have found an Asian buyer for one of its newer bulkers, against a background of falling values.

Brokers reported that the Ed Buttery-led, London-listed shipowner has offloaded the 28,300-dwt handysize Irie Iris (built 2012) for $11.8m to Vietnamese buyers.

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The Imabari-built ship was acquired from Shoei Kisen in Japan for $12.8m