Monaco-based owner and operator of dry bulk vessels GoodBulk, a high profile name in dry bulk shipping, announced the sale of all its remaining ships.
In the period between the company’s first quarter of 2023 earnings release and 5 September 2023, GoodBulk has delivered 11 Capesize vessels to their new owners and has no remaining vessels.
With the guidance of its exclusive manager, C Transport Maritime (CTM), GoodBulk’s first investment cycle is closing and the company is returning to investors all remaining funds in the company.
In an announcement yesterday GoodBulk has confirmed that it has no remaining vessels, and also its intention to remain in the dry bulk sector with potential “new opportunities” coming in the future.
GoodBulk noted yesterday that “the second quarter of 2022 was the strongest asset environment for secondhand Capesize assets since 2014, and longer for Panamax and Supramax assets. Soon after this peak, GoodBulk started to sell vessels timing its disposals well.”
Over 2022 GoodBulk sold eleven vessels and delivered nine of these to their new owners, while in 2023 GoodBulk sold twelve vessels and delivered fourteen.
Following CTM’s advice, GoodBulk’s timing of the 23 vessel sales in 2022 and 2023 was very attractive with all these sales having a positive mark-to-market today, totaling an estimated $60 to $80 million.
GoodBulk’s ownership days lasted almost 7 years, with the first ship delivering to the company on 5 January 2017 and the last one exiting the company on 5 September 2023.
