Wilson offloads oldie

Norwegian mini-bulker owner Wilson has offloaded a vessel that has spent the past several years in lay up.

Reactivating the 9,655-dwt Wilson Mar (built 1985) to the performance level the company requires would mean forking out for a significant upgrade, the Oslo-listed firm said.

However Wilson believes the investment would not be worth its while considering the current state of the market.

The company booked a net deficit of NOK 34.18m ($5.96m) during the first quarter compared to NOK 13.1m in the same three months of 2012.

A Marshall Islands-based company has agreed to pay just under $1m for the vessel which will not operate in Wilson’s core market.

Net proceeds will be used to repay debt the ship.

The sale leaves Wilson with a fleet of 107 ships of which 87 are owned by the company.

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