Cyprus-based Gravelor Shipping has become the latest owner to buy ships out of leases held by sanctioned Russian state finance company GTLK.
Gravelor, part of the White Lake Shipping group, was in the process of activating purchase options contained in bareboat charter agreements for four handysize bulkers when the war in Ukraine broke out.
GTLK was eventually named among the Russian entities sanctioned by the European Union and the US.
