Mumbai-listed bulker specialist Chowgule Steamship has fetched around US$16m for its youngest ship, a 34,900dwt bulker, named Maratha Premier

The seller, Chowgule Steamship, has recently explored sales and purchases opportunities for its coastal and river trade business domestically.

Chowgule Steamship was established in 1963 and is a pure bulk player.

Chowgule Steamship is listed with five ships including the Maratha Premier in the Equasis fleet register and is a part of the much bigger conglomerate Chowgule Group of companies from Goa, India.