The Nicholas G Moundreas (NGM) Group, a traditionally busy player in the secondhand market, is concluding its first bulker sale-and-purchase deal in 19 months.
The $31m transaction for the 81,800-dwt AOM Sophie II (built 2020), related by ship management sources in Athens, provides yet further evidence of values sliding in the sector.
Greek companies such as NGM have been benefiting from this recently, pouncing on modern tonnage that becomes available to renew their fleets.
