Japanese shipowner Daiichi Chuo

Japanese shipowner Daiichi Chuo, the owner has today cut its full-year loss projection from JPY 5.7bn to JPY 2.7bn.
Daiichi has continued its efforts to sell ships to bolster its balance sheet.
Daiichi said the sale of the 208,000-dwt MV First Ibis (built 2010)will earn the company JPY 1.128bn ($9.6m) in extraordinary profit. MV First Ibis has been sold to an unnamed, non-Japanese, third-party buyer for JPY 5.1bn, which is in line with market reports of the deal.
The sale is part of a strategy to rebuild the company balance sheet by reducing the size of the operated fleet and, at the same time, raising cash.