Athens-based Erasmus Shipinvest is selling its only bulker built before 2000.

The company has found a trading buyer for the 77,000-dwt Glory Pegasus (built 1998).

The Mitsui-built ship has fetched some $7.8m, shipbroking sources say.

The price is higher than expected, as VesselsValue says the ship is only worth $5.6m.

Though Erasmus mostly owns modern ships, it bought the Glory Pegasus as CS Pegasus for $8m.