German shipowner and operator Oskar Wehr KG sold supramax dry bulk carrier 2011 built 55K DWT M/V Ingwar Selmer to Greek shipowner and operator Almi Marine for $13.5 million.
German shipowner Oskar Wehr has sought court protection for a fleet of 12 bulkers. Hamburg-based bulker owner has launched insolvency proceedings covering 6 capesize and 6 supramax bulkers in order to proceed with a financial restructuring to keep commercial and technical management. Unusually for German vessels, none of the ships are owned by traditional KG (limited partnership) companies but involved traditional bank lending. Supramax bulk carriers were inked when newbuilding prices were $34 million and charters came in at around $30,000 per day. Today, their value is in single-digit millions and the charter market offers just $2,500 per day.