Multiple broking outlets link fast expanding BW Dry Cargo as the buyer of the 81,344dwt United Legacy, the latest ship sale forced through by creditors of bust Japanese tonnage provider United Ocean Group. BW Dry Cargo, founded three months ago, is paying US$17.5m for the Oshima-built kamsarmax.

The sale is the third kamsarmax offloaded by United Ocean in the past two months. United Ocean founded in 1995 by Indian national Vipan Sharma, filed on Dec. 31 last year for court protection in Tokyo, saddled by debts of more than US$1bn.

"We can't comment on single deals, only on strategies," said the head of BW Dry Cargo Christian Bonfils.