Transworld Group has bought 36,699 DWT bulk carrier Cielo Di Capalbio from Italy’s d’Amico Dry for $15.9m and renamed it TBC Praise. The ship – its third bulker purchase this year – takes the Transworld fleet to 26 ships.

Ritesh Ramakrishnan, Transworld’s joint managing director, said the company is keeping a close eye on the S&P markets and looks forward to welcoming more additions soon.

Transworld is best known for its feeder boxship business, but has significantly diversified its revenue streams in recent years.