Kamor sold 28,000-ton bulk carrier

The sale, for US$12, was made by the company's Liberian subsidiary in which it owns a 50% stake
 
Kamor Ltd. announced last week the sale of a 28,000-ton bulk carrier vessel for US$12 million. The sale was made by the company's Liberian subsidiary in which it owns a 50% stake.
 
The ship, built in 1984, was employed on the company's European routes. Kamor Shipping now has eight ships in its fleet.
 
The announcement made last week to the Tel Aviv Stock Exchange (TASE) noted that the company expects to report a pretax capital gain of $4.7 million on it share of the deal.
 
The sale contract had been concluded six weeks ago but the company notified the TASE only last week, a week after delivery of the ship to its buyer, on October 15th. Kamor explained the delay to "concern that the buyers might cancel the sale or that the terms of the contract might worsen if published”.