The company has been expanding and renewing its fleet but sources say it is ready to dispose of the 53,000-dwt Rea (built 2003), which can be inspected in Brazil later this month.
Franco Compania had a busy year in 2013 but the Rea would be its first sale-and-purchase deal this year.
Last year, the company sold two 1980s-built bulkers, while affiliated company FCN Management Inc bought two secondhand bulkers and also moved into the newbuilding market.
