Precious Metals, a wholly-owned subsidiary of Precious Shipping (SET:PSL) has sold Supramax bulk carrier M.V. Kanchana Naree for $14.6 million, according to a Thursday filing to the Thai stock exchange.
The vessel, built in China in 2011, has a capacity of 56,920 deadweight tons (DWT). It will be delivered to the buyers between Sept. 11 and Oct. 15.
The divestment is part of the company's strategy to rejuvenate its fleet by selling its older vessels and acquiring younger and bigger vessels.
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