Noble Group eyes sale of Ocean Forte for $32.2m

It expects to gain profits of US$300,000 from the sale.

Noble Group signed a memorandum of agreement with Aeolian Spirit Shipping and Transmed Shipping for the proposed sale of a Kamsarmax dry bulk carrier vessel called Ocean Forte for $32.2m (US$23.79m).

According to an announcement, Ocean Forte is registered under the flag of Hong Kong. It was built in 2015 and has a capacity of 81,616 dwt.

The vessel is employed to service external customers as well as Noble’s internal freight requirements. It is included in Noble Group’s Metals, Minerals and Ores segment for reporting purposes.

Noble said it expects to gain US$300,000 from the sale. According to the company, proceeds from the sale of Ocean Forte will form part of its Asset Co assets in its restructuring plan. They will be used to pay its debts.

Noble said the sale does not impact the proposed debt restructuring it is trying to complete.