Western Bulk pockets $1.5m profit from ultramax sale

Norwegian dry bulk operator Western Bulk Chartering has locked in about $1.5m profit from the sale of a 2020-built ultramax picked up by exercising a purchase option. The Oslo-listed company has offloaded the Western Singapore to Thai bulker owner Precious Shipping for $28m. The purchase option was exercised at Japan’s Nisshin Shipping, and the 63,688 …