The 75,000-dwt Prabhu Satram (built 2004) has been acquired by an undisclosed buyer for $8.5m.
Some say Transmed of Greece is behind the purchase.
The price appears to imply a drop of close to 10% in panamax values in one month. A sistership, the Torm Bornholm (built 2004), was sold for $9.25m to Target Marine.
The investment in the Prabhu Satram is unlikely to have been a success.
