Bulker owner Sterling Shipping has bought a kamsarmax in the secondhand market and refinanced the rest of its fleet.

It has purchased the 80,300-dwt Derby (built 2011) from Orion Bulkers and renamed the South Korean-built vessel Sterling Freija.

Sterling’s founder and chief executive, Christopher Fjeld, told TradeWinds the ship was acquired for around $23m, a shade lower than numbers being reported by brokers.