Low-profile Turkish shipowner Gulnak Denizcilik has further expanded its fleet with the purchase of a handymax bulker.

Izmir-based Gulnak, one of the few Turkish shipping companies to be based outside the country’s commercial capital of Istanbul, has emerged as the buyer of the 45,700-dwt FF Wish (built 1997). The ship was reported sold earlier this year for $5m by First Fleet, a little-known company based in Bulgaria.