Leading Scandinavian handysize player, Lauritzen Bulkers, has sold the nine-year-old-38,200 DWT Japanese built Nicoline Bulker for a very firm $20m. Hong Kong’s Pacific Basin is tied to the deal.

The Danish company has timed the market well. The ship has doubled in value in a year. The high price is due to its prompt delivery, not its condition.

The geared bulker has its special survey and drydocking due in January 2022, and the ship is noted to be in need of a ballast water treatment system.