SwiftBulk has made its first ship sale after a year of contributing cash to its insurance underwriter parent.

The 55,600-dwt supramax bulker Stilianos K (built 2010) went for $21.5m to an undisclosed buyer. The deal reflects price levels from late March, when the deal was agreed.

The sale of a bulker, without the ship name, was disclosed in a quarterly results filing by SwiftBulk’s parent company.