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Western Bulk divests claim against South Korean carrier

Western Bulk pockets USD 12 million by divesting a claim against the South Korean dry bulk giant STX Pan Ocean, which filed for bankruptcy last year.

Norwegian dry bulk carrier Western Bulk has managed to divest its claim against South Korean STX Pan Ocean. The deal means that Western Bulk can pocket USD 12 million as the carrier follows the lead of J. Lauritzen. The Danish carrier sold off its STX Pan Ocean claim in April this year.

The transaction of selling the claim to a third party will be effective from June and the profit from the sale will be included in the carrier's second quarter interim report, says Western Bulk in a corporate statement.

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