South Korean bulker company Polaris Shipping is boosting its fleet and appears to have clinched a deal for a newcastlemax newbuilding from Wilbur Ross-backed Transport Recovery Fund (TRF).
Sources say the 209,000-dwt TRF Charleston (built 2017) has been sold to the Korean owner for $46.2m. VesselsValue says the ship is worth $42.5m.
The deal reflects how bulker prices have gone up in the past year and comes as Polaris is renewing its fleet of converted very large ore carriers (see story, page 3).
