Japan’s Sanko Line is said to have bought a modern kamsarmax bulker from trading house Mitsubishi Corp as the shipowner rebuilds its fleet.

Shipbrokers said the outfit has spent $21.5m to acquire the 81,000-dwt Majestic Sky (built 2014), a price that is in line with expectations. The bulk carrier is due for dry docking in April.

A Sanko official declined to confirm the acquisition of the Imabari Shipbuilding-constructed ship, saying the company does not comment on market reports.