Isle of Man-based LT Ugland is expanding its fleet of bulkers and has now acquired the 57,000-dwt Castor Star (built 2010).

The Tsuneishi Cebu-built ship has been renamed Molly Manx. Although the price has not been reported, the vessel is believed to have been purchased for between $25m and $26m.

It was previously in the fleet of Jinhui Shipping & Transportation as Jin Yang but the company sold the ship for $27m earlier this year.

Shipowner