The Singapore-based company has sold the 4,000-cbm Epic Cebu (built 1997) and the Cefalu (built 1996) for an undisclosed fee.

The identity of the buyers was undisclosed and only described as “engaged in Southeast Asian cabotage trades”.

Epic said proceeds from the sale were used to retire $9m of senior debt set to mature at the end of December this year.

Epic said the transaction “demonstrates its commitment to proactively managing our fleet to improve profitability and to delivering our customers a differentiated service with modern vessels across the full size spectrum”.

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