The company, part of Silk Holdings, said it will receive $5.925mfor the 1,200-dwt JM Aman (built 2005) from an unnamed buyer in March.
The ship’s net book value is MYR 14.41m ($4.32m), with aremaining loan of MYR 1.8m to be paid off.
Remaining cash will go towards general working capital andwill boost earnings while reducing borrowings, the owner added.
It said the sale was part of its “ongoing fleet renewal andreplacement programme in the ordinary course of its business.”
