New York based Apex Bulk Carriers offloads second handysize bulk carrier 2010 built 34K DWT M/V Ethel L for $9.6m. In June 2016, Apex Bulk Carriers sold the sistership 2011 built M/V Quinn J to Empire Bulkers $9.5m. CEO John Calicchio ordered 8 sister-ship new buildings between 2009 and 2012 between $33m to $38m apiece. Apex Bulk Carriers timing was wrong to build a fleet. In 1998, CEO John Calicchio bought shipless Apex Ship Management and then built up a fleet of eight handymax bulkers with secondhand purchases.