(Oslo, 21 March 2025) Western Bulk Chartering AS (Western Bulk, OSE:WEST) today announces the sale of the 2020-built ultramax vessel Western Singapore, realizing a net profit of approximately USD 1.5 million, following the exercise of a vessel purchase option.
Western Bulk has entered into an agreement to sell the Western Singapore to an unnamed buyer by exercising a purchase option with a subsequent sale in the second-hand market. The details of the transaction are subject to confidentiality agreements, but Western Bulk expects to book a net profit of approximately USD 1.5 million in the second quarter 2025.
Following the Western Singapore transaction, the company has one purchase option left in the trading book.
For more information, please contact:
Torbjørn Gjervik, Chief Executive Officer
Tel: +47 940 28 211
E-mail: torbjorn.gjervik@westernbulk.com
Jørgen Veie-Rosvoll, Head of Period Tonnage
Tel: +47 482 38 213
E-mail: jorgen.veie-rosvoll@westernbulk.com
About Western Bulk:
Western Bulk is a global dry bulk operator and derivatives trader registered on Euronext Growth in Oslo. Propelled by an entrepreneurial spirit, we combine in-depth maritime knowledge with trading expertise. Through combining advanced risk management, extensive use of market data, analytics to optimize fleet deployment and vessel-cargo matching, we offer tailor-made solutions serving our customers´ needs.
See www.westernbulk.com for more information.
Disclaimers
This press release contains forward-looking statements. Forward-looking statements are statements that are not historical facts and may be identified by words such as “believe,” “expect,” “anticipate,” “intends,” “estimate,” “will,” “may,” "continue," “should” and similar expressions. The forward-looking statements in this release are based upon various assumptions, many of which are based, in turn, upon further assumptions. Although Western Bulk Chartering AS believes that these assumptions were reasonable when made, these assumptions are inherently subject to significant known and unknown risks, uncertainties, contingencies and other important factors which are difficult or impossible to predict and are beyond its control. Such risks, uncertainties, contingencies and other important factors could cause actual events to differ materially from the expectations expressed or implied in this release by such forward-looking statements.