George Economou has attained a healthy price for a 18-year-old panamax bulker to a buyer said to be based in Shanghai as he continues his fleet renewal efforts.

UK shipbrokers say the 74,000-dwt Topeka (built 2000) was sold by Economou's private company TMS Dry for $9m, although some suggest that the unusually strong offer may still be on subjects as further inspections are scheduled.