Hong Kong bulker specialist Chellaram Shipping has finalized the purchase of 60,000dwt Aby Paola for US$19.5m. This is the reported first bulk purchase by the conservative Hong Kong owner in years.

The sale appears to be good deal for the seller as VesselsValue.com sets the market value at US$16.72m for the one-year-old ship.

The seller ABYO is a joint venture between York Capital Management, Augustea, Bunge and Oceanbulk.