A 17-year-old panamax bulker formerly managed by Diamantis Lemos company Diamlemos Shipping Corp successfully went under the hammer on Wednesday.

The 74,800-dwt Angelic Grace (built 2001), which was the second-oldest vessel in Diamantis Lemos’ nine-ship fleet, was sold at the reserve price of $5.5m, TradeWinds has learned.

Only one bid was submitted for the vessel, which was built at Hudong-Zhonghua Shipbuilding and has been idling in Greece for several months.