Pacific Carriers of Malaysia continues to trim its fleet of elderly bulkers.

It has now disposed of a 15 year old panamax at a price reflecting the current pressure on values.

Sources say the Sanoyas built 75,000-dwt Ikan Bilis (built 2004) has sold to an undisclosed buyer for $7.7m.

This is below the firm $9m VesselsValue says Ikan Bilis is worth.