Noble Group to sell four vessels for $127.92m

The sale is part of its ongoing restructuring to clear debt and lift the business.

Noble Group (Noble) inked a memoranda of agreement (MOA) with four companies to sell its four Kamsarmax dry bulk carrier vessels for $127.92m (US$95m).

According to an announcement, the vessels, namely, Ocean Ambition, Ocean Forte, Ocean Integrity, and Ocean Vision, are registered under the flag of Hong Kong.

They have an average age of three years and range from 81,499 dwt to 81,616 dwt in capacity.

The book value of the vessels was approximately $126.57m (US$94m).

The sale of the vessels is part of its ongoing restructuring to clear debt and lift the business, Noble said.

Noble signed the MOA with with OPT Value Acq 1 Limited, OPT Value Acq 2 Limited, OPT Value Acq 3 Limited and OPT Value Acq 4 Limited.

The buyers shall also deposit a 10% of the consideration with an escrow agent.