It is said to have paid $9.4m to $9.5m for the Shin Kasado-built, 76,000-dwt Ocean Rose (built 2008).

The price is in line with the $8.5m fetched by the Japanese-built, 75,000-dwt Nord Pegasus (built 2007) three weeks ago.

Third bulker buy in 2016

The Ocean Rose is the third bulker Golden Union has bought this year.

In January, it bought back two 179,000-dwt resales for delivery from Hanjin Heavy Industries at $35.3m