JP Morgan is said to have made a profitable asset play in the sale of two capesize bulker newbuildings to ArcelorMittal, the world’s largest steel producer.
US brokers said the bank has sold the 180,000-dwt Hull No 1460 and Hull No 1461 for nearly $49.3m each.
The ships are set for delivery in 2019 and have already been named True Valor and True Virtue.
