Chinese owner Great Harvest has sold its only capesize for a fraction of what it paid for the ship in 2007.
The 123,000-dwt GH Resources (built 1990) has gone to Bangladesh for $467 per ldt, or $7.2m. The deal is said to include 350 tons of bunkers. Some say the price is as high as $501 per ldt. Great Harvest bought the ship as Ullswater for $43m seven years ago.
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