Rainbow Shipmanagement of Greece has sold a bulker for scrap.
Athens-based Rainbow has sent the 65,000-dwt Andros R (built 1985) to be chopped up at a Bangladeshi yard.
Cash buyer GMS places a $435 per ldt price on the sale, which works out at $4.78m for the owner.
Rainbow bought the ship in 2007 for $28m.