Russian shipowner Sovcomflot (SCF Group) has raised $112m for new projects by selling 10 vessels and exiting the bulker market.
The Moscow-listed company said the moves to shed two "ageing" panamax dry cargo vessels and eight tankers were part of an ongoing fleet modernisation and optimisation programme.
"By selling two panamax dry bulk carriers, Sovcomflot has completed its exit from non-core dry bulk segment," the company added.
