Low-key Greek owner Newport is looking to double its money by selling its only panamax bulker.
Sources say the company is disposing of the Tsuneishi Shipbuilding-constructed, 76,000-dwt Levantes (built 2001), which is discharging in the Saudi Arabian city of Jeddah this week. It is likely to fetch $7m to $7.5m.
The vessel, bought at the bottom of the market as Ji May in March last year for $3.7m
