The Oshima-built, 53,000-dwt Ultra Tradition (built 2008) has been acquired by a KS (limited partnership) company, with Eitzen as the main investor.
The deal for the recently drydocked ship has not previously been reported. Online platform VesselsValue.com estimates the bulker to be worth $12.4m.
Eitzen confirms the deal but says the price is higher. He knows the ship very well, as he earlier had it as the Sibulk Tradition in his Eitzen Bulk fleet before that company collapsed in the market crash of 2008.
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