Croatian shipowner Alpha Adriatic has raised cash by selling two of its bulkers to a joint venture it set up in the summer with Dutch financial advisor DC Maritime Partners.

Zagreb-listed Alpha Adriatic owns 50% of Alpha DCM Investments, which was established in July to acquire and operate vessels.

The Croatian company said that the joint venture has now taken over the 52,000-dwt supramax Punta (built 2016) at the port of Samsun in Turkey, and has also agreed to buy the sistership Valovine (also built 2016).