Norwegian dry bulk owner Wilson has sold the 30-year-old bulker Wilson Riga to an unspecified Albanian company for its book value of US$520,000. The ship was facing an imminent dry docking and Wilson thought that the expense involved was not worth it given the ship's age.

Wilson now operates a fleet of 113 ships of which 80 are owned.

This is the fifth time in 11 months that Wilson has got rid of an elderly ship facing a drydocking.