Singapore's Kumiai Navigation has sold its oldest vessel amid a renewal of its VLGC carrier fleet.
The company, a unit of Japanese shipowner Kumiai Senpaku, has confirmed that it sold the 80,000-cbm Crystal Marine (built 2003) for $37m.
Brokers said that Basundhara Group purchased Kawasaki Heavy Industries-built Kawasaki Heavy Industries-built VLGC. However, Kumiai said the Bangladeshi company did not buy the vessel, though it declined to identify the true buyer.
