Sources say the Imabari-built, 26,600-dwt bulker Imperius (built 1997) went for $6.8m, which is roughly in line with market expectations.

However, when contacted by TradeWinds, the company denied a sale was on the cards.

“The Imperius is not being sold,” a spokesperson said.

A deal would leave the company with five handysizes built between 2008 and 2011. They include the 34,500-dwt sisterships Sirius (built 2011) and Mercurius (built 2010), which were ordered by Frangoulis at SPP Shipbuilding in South Korea for $27m to $28m each and are now likely worth between $19m and $20m each.

Frangoulis