Greek dry bulk player Ikaros Shipping & Brokerage Co has shed its oldest vessel as it prepares to take delivery of a newbuilding under construction in Japan.

Market sources say the John Christodoulatos-led company has agreed to sell the 50,300-dwt bulker Ken Sirius (built 2003) to Far Eastern buyers.

Brokers' price estimates vary between the high $7m mark and $8m — a surprisingly large figure for the 14-year-old, Kawasaki-built supramax.