2010 Cape Sold by NGM Energy for $32.5m

The S&P markets are witnessing continued high levels of activity, especially within the bulker sector.

A renowned Greek entity has been highlighted in numerous broker reports this week.

Greek shipping company NGM Energy is once again making headlines for its successful strategy of earning millions through the purchase and sale of vessels.

In its latest transaction, NGM Energy has offloaded a capesize vessel – the Epic, constructed in 2010 – which it acquired four years ago for $18 million. The sale price in the current buoyant market was $32.5 million to buyers who have not been disclosed.

For NGM, the ship, formerly known as Cape Leonidas and acquired from Stamatis Molaris' Alma Maritime, has proven to be a lucrative asset.