Greek owner Paragon Shipping has confirmed the sale of three bulkers to pay off a loan with Commerzbank. The US-listed company said it would clear the remaining $38.23m of a $57m facility with the lender. The bank will take the net proceeds from the disposal of the the Namura-built, 74,300-dwt Diamond Seas (built 2001), Hudong-built, 74,500-dwt Pearl Seas (built 2006) and Xiamen-built, 53,700-dwt Sapphire Seas (built 2001), on which it holds mortgages.
