Malaysian bulk player Austship who was the higgest bidder for a ship laid up after arrest since November last year, finally got its bid approved.

The 76,000dwt Newlead Victoria was sold at an auction arranged by Malaysian authorities at the beginning of March with Austbulk's US$3.67m initial bid rejected before it raised it and won the ship in a US$5.5m deal.

The family owned shipowner has also just spent US$6.5m for the 75,000dwt Orsolina Bottiglieri.