The Tidemand group of Norway has confirmed the sale of a Japanese-built supramax at a sizeable profit.
The company has sold the 55,000-dwt bulker Stove Phoenix (built 2007), which was built at Kawasaki Heavy Industries. The ship has fetched $11.6m, which gives the seller a $2.3m profit plus foreign exchange gains.
“It has been an adventure. We bought at a market low and are now disposing of Stove Phoenix with a significant profit,” said board member Kristin Tidemand.
