Bocimar International, a subsidiary of CMB Group, has sold two Capesize vessels, Mineral Libin and Mineral Azalea for $53m and $45m.

The delivery of the Mineral Libin is scheduled between August 2009 and April 2010 and Mineral Azalea will be delivered in the third quarter of 2009.

Bocimar has recorded a capital gain of $21m on the sale of the Mineral Azalea and made a capital loss of $2m from Mineral Libin sale, the company said.