Dubai-based Tomini Shipping appears to have pulled off a commercial coup, selling a seven-year-old supramax bulker for a large profit.

The Vietnamese-built, 53,000-dwt Tomini Dignity (built 2010) has been sold to an undisclosed buyer for $9.8m, European sources say.

Tomini paid $5.6m when it bought the ship as United Jalua in August last year.

However, the Ha Long-built Tomini Dignity fetched much less than the benchmark value of a similar South Korean or Japanese unit.