Greek owner Evalend Shipping has bought three resale Panamax bulk carriers under construction at China's Jiangsu New Yangzijiang shipyard. The vessels were initially ordered by compatriot Paragon Shipping, according to VesselsValue data.

The vessels are the 82,100dwt Inspiring Seas, the 81,100dwt Bright Seas and the 81,800dwt World Seas.

Scheduled for delivery by the year-end, Inspiring Seas and World Seas were acquired for US$20.35m each. Bright Seas, expected to be delivered in 2017, was purchased for US$20.8m.

Market value of each of the three ships comes in at approximately US$21.3m.

Two of the bulk carriers were scheduled to be delivered in the second quarter of 2015 and one in the fourth quarter of 2015. However, Paragon said in June 2015 it will postpone the delivery of the three ships due to the difficult market situation of oversupply and record-low charter rates.

Earlier this year, Paragon decided to sell all of its six dry bulk carriers to unnamed third parties as it aimed for a full and final settlement of the outstanding amount of the company's debt.