Pioneer Marine calls it a day and puts fleet up for sale
Greek line’s shareholders decide to sell remaining handysizes and dissolve the company.
Greek ship owner, Pioneer Marine, has put its entire fleet up for sale and will liquidise the company once the vessels are sold. In statement Wednesday, the company said it will sell “all or substantially all its assets”.
Bulker prices have been rising steadily over the last few months and investors may now agree the time is right to cash in. The sale will be done at an agreed aggregate minimum price and is based on terms set by the board.
It is not clear if a buyer has already been lined up and no executives have commented. Pioneer Marine was formed in 2013 by Pankaj Khanna and Clarksons and VesselsValue still list the company with 11 handysizes ranging from 29,000 dwt to 38,000 dwt.
