Cypress Leasing offered little detail when asked about the 90,700-dwt Glenross (built 1993) but confirmed it fetched around $440 per ldt on an “as is, where is” basis in Labuan.
A portfolio manager at the San Francisco-based investment firm said the transaction was led by AIG Commercial Asset Finance of the US, which held the ship’s mortgage.
The company also denied reports that the demolition deal would mark its departure from the shipowning arena but refused to shed light on how many ships remained in its portfolio.
The
