It is paying more than $9.5m for the 34,000-dwt Quinn J (built 2011), sources say.

The deal confirms a continued firming of bulker values. Last month, the Shin Kurushima-built 33,000-dwt bulker Boronia K (built 2011) was sold for just $8.5m.

The Greek company is listed with a fleet of 18 bulkers from handysize to capesize.

Its last move in the sale-and-purchase (S&P) market came in December, when the then Kanda-built 33,000-dwt Matsushima Bay (renamed Galene M, built 2011) was bought for $11.5m.

Empire