Nikolaos Vafias is in line for a speedy profit on two capesize bulkers, showing a formula for making money in the depressed market.
Vafias-backed Eco Dry Ventures is in the process of selling two capes bought earlier this year as prices hit rock bottom, market sources say.
The 177,000-dwt Moneqasque Eclat (built 2006) – which Vafias bought as the Spring Hydrangea – and the Tigerlily (built 2008) – purchased as C Winner – are set to secure just short of $30m en bloc, it is suggested.
