TMT’s A Duckling waddles into fleet of Korea Line Corp

South Korean owner gets green light from US bankruptcy court for $20.8m purchase of TMT capesize

11 April 2014 0:00 GMT Updated 11 April 2014 0:00 GMT

By Eric Martin Stamford

Korea Line Corp (KLC) has won the race for a capesize bulker in the bankrupt fleet of Nobu Su’s Today Makes Tomorrow (TMT).

US Bankruptcy Judge Marvin Isgur has approved the $20.8m sale of the 171,199-dwt A Duckling (built 1999), declaring that the ship will change hands free and clear of any liens.

TMT and its creditors decided between two top bids in the sale process engineered by broker Martin Rowe of Clarkson Asia’s Hong Kong division, which recommended that the KLC bid should win.

Under