The Pappadakis family company Kassian Maritime Navigation has continued to renew its bulker fleet with the disposal of a 13-year-old panamax vessel.
Brokers in Europe and the US said the 74,000-dwt Underdog (built 2006) has been sold to an undisclosed buyer for $8.5m.
The selling price is roughly in line with price expectations for the Hudong-Zhonghua-built ship and about the same as Kassian paid for the ship in March 2017.
