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Noble Group To Sell Ship For $24 Million

Image: Noble Group

By Aiswarya Lakshmi

Struggling commodity trader Noble Group Ltd said it would sell to Bianca Corp a Kamsarmax dry bulk carrier for $24 million in cash.

The Hong Kong registered ship has a capacity of 81,499 deadweight tons. Built in 2015, the vessel, Ocean Integrity, is employed to service external customers as well as Noble Group's internal freight requirements.
"The consideration for the Proposed Disposal shall be US$24 million payable on completion of the Proposed Disposal and will be satisfied in cash. The Consideration was arrived at after arm's length negotiations between NGL and the Buyer, on a "willing buyer willing seller" basis, and taking into account, inter alia, the valuation of the Vessel and the Vessel's specifications and age," said a statement from the company.
The Vessel is currently mortgaged to a financial institution and part of the proceeds from the proposed disposal will be used by Noble Group to pay down the amounts owned under the relevant facility.
Two valuations of the vessels were recently commissioned by Noble Group on Feb 1. The first one was conducted by Arrow Valuations, and the second by Clarkson Valuations; both valued the vessel at US$24 million.

Mar 11, 2018

 

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