Greek bulker owner Marmaras Navigation has acquired a nine-year-old capesize from the German KG (limited partnership) market at an attractive price as it continues to build up its fleet.

European and US shipbrokers said the 169,000-dwt SC Lotta (built 2009) was purchased for $20.8m.

VesselsValue says the Sungdong Shipbuilding & Marine Engineering-constructed vessel, which is due for special survey in February next year, is worth $23.7m.