Singaporean owners Raffles Shipping has bought two modern Chinese built ultramax bulkers in a further expansion of its fleet.
The 63,000-dwt Star Vivian and Star Jing (both built 2013) have been purchased for $14.8m each, brokers say.
Raffles has picked up the pair from compatriot Norr Systems, which has been trying since October 2014 to offload the duo.
At that time the sale was first explored they were worth around $24m to $25m each.
