US investment house JP Morgan has secured a $3.2m profit by flipping yet another ultramax it acquired in a bank-driven sale early last year.
Greek and international brokers report JP Morgan has sold the 63,500-dwt Sage Baylorcom (built 2015) to Greece’s JME Navigation for just under $23m.
Managers at Harry Hazapis-led JME Navigation did not respond to a request for comment by the time TradeWinds went to press.
