Singapore is set to lose another shipowner with the news that Greenship Bulk Trust is set to close its doors for good.

The Jacques de Chateauvieux-backed venture has sold, or is close to selling, its entire fleet of fourteen Crown-63 ultramax bulkers.

“It has been decided to close down Greenship Bulk Trust after the delivery of the last vessel, repayment of the loan in principal and interest,” chief executive Philippe Rene Georges Rochet said in a statement.