Hellenic Carriers has disposed of its oldest bulker, the Hellenic Horizon.
Built in 1995, the South Korean-built 44,809 dwt vessel was sold as part of the Greek ship owner’s fleet renewal program.
According to the company, it has only one ship built in the nineties left as part of its fleet.
In a statement, Hellenic said that, taking into account the Horizon’s net book value and sale expenses, it is expecting to make a net loss of approximately $3.9 million on the sale.
All proceeds will go towards repaying bank debt and strengthening the company’s balance sheet.