Grindrod Shipping has purchased a modern ultramax bulker at what the owner has described as a “significantly reduced price relative to its value”.
The Singapore-based shipowner confirmed on Thursday that it picked up the Japanese-built, 60,000-dwt IVS Phoenix (built 2019) for $23.5m.
The vessel was originally chartered-in from Mitsui E&S Holdings for a minimum period of three years from delivery, with options to extend for up to two years and no purchase options.
