Costamare Bulkers, the New York-listed outfit operating out of Monaco, is picking up the pace on its fire sale as the owner looks to cash in ahead of Chinese New Year. 

For the second consecutive week, the Gregory Zikos-led group is reported to be flooding the secondhand market with ships. The latest vessel noted on the sales block is the 56,000 dwt Japanese-built supramax Clara, said to have been sold for just under $12m to Far Eastern interests. This is the oldest ship in its fleet. 

It comes as little surprise that heavyweight owners are keen to offload tonnage, with Chinese buyers showing a strong appetite for charter-free vessels and paying firm prices for elderly ships. 

Last week, Costamare Bulkers was also reported to be selling the Tsuneishi Cebu-built Miracle (81,000 dwt, built 2011) for around $32m. The vessel was acquired by Costamare towards the end of 2023 for approximately $27m, implying a capital gain of about $5m on the transaction, according to sources. 

The two deals mark Costamare Bulkers’ first secondhand disposals of the year, underlining owners’ willingness to lock in profits amid resilient asset values. The company lists 31  owned dry bulk vessels, ranging from 55,000 dwt supramaxes to 180,000 dwt capesizes on its site.