Turkish handysize specialist Devbulk has bought its third bulker in a year and is likely to end its expansion drive as it hits its self-imposed growth limits.
Led by sixth-generation shipowner brothers Hakki and Orhan Deval, Devbulk will soon take delivery of the 38,100-dwt Anne Mette Bulker (built 2012), after which it will trade as Lady Sare.
It was agreed that the Naikai Zosen-built vessel would change hands a couple of weeks ago at around $23m, market sources said.
