Courage Marine is selling a handymax bulker for $4.02m for scrap.
The dual Singapore and Hong Kong-listed shipowner is selling the 42,000 dwt vessel Heroic to MDI. Courage said MDI was a British Virgin Islands company principally engaged in the scrapyard business.
The company bought the vessel in 2006 for $6.2m. Courage said it would record a loss of about $300,000 on the sale.