Paragon Shipping sold old panamaxes

Paragon Shipping continue to sell vintage tonnage for further trading despite the spot market for bulkers having failed to meet operating costs for some time. Paragon Shipping appeared to have disposed of the M/V Calm Seas (74,000 DWT built 1999)  and M/V Deep Seas 72,000 DWT (built 1999) earlier this week for further trading to an undisclosed buyer for $2.9m each, in line with demolition prices.M/V Calm Seas is due for SS (special survey) in September 2018 and M/V Deep Seas in January 2019. Sale figure is $200,000 above scrap value.