d’Amico Dry has sold two of its older panamax bulkers for a combined price of $16.3m, TradeWinds has learned.

The Luciano Bonaso-led owner has sold the 76,469-dwt Medi Baltimore (built 2005) for $8.4 and 75,767-dwt Medi Cagliari (built 2004) for $7.9m.

A spokeswoman for the company confirmed the sales and said the ships were "sold from a fleet renewal perspective".