Middle Eastern aggregates trader Combined Group Rocks has made over $2m in profit on the sale of an elderly baby capesize bulker it acquired in 2017.

The Kuwait-based company’s 94,300-dwt Moshtaraka 2 (built 1995) was reported in the latest ship recycling reports as being sold to cash buyers on an “as is” Khor Fakkan basis with full Indian subcontinent options at $540 per ldt, of $7.8m