A former Italian-owned bulker has become the first ship ever sold at auction in Jamaica in a transaction that attracted huge local attention and strong buying interest.

Market sources say the 34,500-dwt Trading Fabrizia (built 2011) has been sold to Bluefin Marine of Greece for $10.3m.

More than 20 shipowners tabled bids for the ship, which has been under arrest in the Caribbean since 2016.