An undisclosed company based in the United Arab Emirates (UAE) has purchased an unusually sized post-panamax bulker, which it plans to convert into a self-loading vessel.

The deal for the 101,600-dwt Niki (built 2006) has been concluded at a price close to $12.1m, TradeWinds is told.

Last-done levels are hard to come by for the vessel, which was built at DSME’s 2 Mai Mangalia yard in Romania.