Hong Kong owner Fenwick Shipping has offloaded its oldest ship. The low profile outfit sold the 16,900dwt Ma Cho, built in 1997, for some US$1.6m.

The conservative handysize specialist is owned by Antony Louis Marden and Oistein Harmens Thorsen.

The bulk player stayed loyal to its segment over the years focusing on operating a string of grab-fitted small handysize dry bulk carriers concentrating on the Asia and Oceania regions.