Ultrapetrol bought kamsarmax bulk carrier

Argentine shipowner and operator Ultrapetrol bought a newbuilding kamsarmax dry bulk carrier while still contemplating a bankruptcy filing. Argentine shipowner and operator Ultrapetrol bought 2016 built 81K DWT M/V BSI Cadogan from Malta based Berkeley Shipping for $20 million.  2016 built 81K DWT M/V BSI Cadogan was built at Chinese Shipyard Hudong-Zhonghua Shipbuilding Group a sub company of state-run China Shipbuilding Group Corp (CSSC). Argentine shipowner and operator Ultrapetrol focusing on its core river barge and offshore fleets. In Novermber 2016, Argentine shipowner and operator Ultrapetrol planned to put the river fleet into a pre-packaged Chapter 11 restructuring and would seek an out-of-court restructuring for its offshore supply vessels.