Hanoi-based Vietnam Ocean Shipping Lines (Vinalines) has sold a handysize bulker as it prepares for more disposals from its fleet.

The shipowner is offloading the 42,700-dwt bulker Vinalines Sky (built 1997) after a protracted process involving several tenders over a year-long period.

Company officials said they are finalising a sales contract with a buyer that submitted the most acceptable offer in a tender auction that closed on 29 May.