Egyptian line makes rare resale move

Egypt’s National Navigation Company (NNC) has been revealed as the taker of a newbuilding that Croatia’s Atlantska Plovidba sold earlier this month. 

A filing revealed that the European owner had offloaded a kamsarmax newbuilding with delivery in the first quarter of 2024. The 82,000 dwt ship named Aplovrijenac is one of four bulkers it has on order in China. The Zagreb-listed company sold the Jiangsu Hantong Ship Heavy Industry-built kamsarmax for $37m.

The taker of the ship, Cairo-based National Navigation Company, owns a fleet of 13 bulkers under the Egyptian flag and one containership. This is its first purchase in years.