Louis Dreyfus Armateurs (LDA) is no longer a bulker owner and has sold its 13 remaining dry cargo vessels to a joint venture between JP Morgan and MUR Shipping.

The big-ticket deal comprises 13 handysize bulk carriers, which was first reported by Le Marin in France and confirmed by LDA in a statement on Friday.

VesselsValue estimates the combined market value of the 13 bulkers at $304.6m.