Argentine shipowner Interocean appears poised to book a loss from the sale of a bulker it acquired during its expansionary phase over the past four years.

European brokers said the company sold the 76,000-dwt Sudestada (built 2010) to a Greek buyer for $11.3m.

That is less than estimates by VesselsValue and Maritime Strategies International, which say the Jiangnan Shipyard-built ship is worth between $12.8m