Oslo-based bulker owner Stove Rederi has suffered huge losses and sold its ships.

TradeWinds earlier reported that the company had sold its five 1990s-built bulkers. But Stove also has two 57,000-dwt bulker newbuildings set for delivery from Tsuneishi Cebu Shipbuilding this year, which now have been sold in an off-market deal to a company called Amber Ocean and chartered to Stove Friendship.

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