Tomini seals super supramax sale

Dubai-based bulker player Tomini Shipping is closing out the year with two neat deals, selling two supramaxes and netting just under $8m in the two-year asset play.

Privately owned Tomini has let go of two eight-year-old 57,000 dwt ships – Tomini Ability and Tomini Infinity – for $10.85m each.

The company began to circulate the ships for sale some months back, after purchasing them for $7m each in late 2016.

In late December last year Tomini  managed  another commercial coup, selling a seven-year-old supramax, the Tomini Dignity for  $9.8m to Nanjing King Ship Management, a ship it had paid just $5.6m for in August the year before.

Privately owned Tomini’s main shareholders are its chairman, Imtiaz Shaikh, and his family. The company began more than 40 years ago as the shipping arm of the family’s Pakistan-based cotton-trading business and has focused primarily on the dry cargo trades.