German owner Reederei Roth has sold one of its four remaining owned ships.

The 72,000-dwt bulker Silver One (built 2000) has gone to an undisclosed Chinese buyer for close to $8m, which is a higher purchase price than expected.

The company bought the Daedong-built panamax as Silverstone in March 2003 for $20.6m. When the market peaked in May 2008, the Silver One was worth close to $80m.