Moundreas-owned NGM Energy has secured an attractive rate on a term charter for an 18-year-old capesize bulker.

German bulker operator Oldendorff Carriers chartered the 171,000-dwt Sunbeam (built 2000) for 11 to 13 months at $16,500 per day, European shipbrokers told TradeWinds this week.

NGM bought the vessel from NYK Line as the Chitose in April 2015 for no more than $9.25m.