Cyprus-based owner Pelagic Partners is eyeing growth in bulkers after snapping up a German-controlled handysize.
The company said it has acquired the 36,300-dwt open-hatch vessel UBC Hamburg (built 2011), bringing its second fund, Pelagic Yield Fund (PYF), to four ships.
The former Shanghai Pearl cost $14m from Carrier 53 of Germany last month, brokers reported.
