The vessel must have been a cash cow for the owner, which bought it as Pacific Brilliance for $25m in May 1995.
Fafalios is listed with a fleet of five bulkers, with the others built after 2000.
In another panamax sale, First Steamship of Taiwan has sold the 72,000-dwt Ever Blossom (built 1997) to Bangladesh for $278 per ldt, or $2.8m, in a deal that includes 250 tons of bunkers.
