The two companies have decided to split their common shareholding in two modern kamasarmaxes.

Until now, each had a 50% stake in the 93,000-dwt Lara Venture and Nadine Venture (both built 2011).

The half-year report for CMB, Bocimar’s holding company, revealed that the parties have decided “to simplify their joint venture”.

Bocimar, along with Peter Livanos-led parnter DryLog, gets full ownership of the Nadine Venture.