Noble Group says proposed deals to sell four ships fall through

SINGAPORE, Feb 02 (Reuters): Crisis-wracked commodity trader Noble Group said on Friday said proposed agreements to sell four dry bulk carrier vessels have fallen through after the buyers failed to get approval from their boards for the deals by Thursday.

Noble estimated it would have received net proceeds of about $30 million if the vessels had been sold, after repayment of mortgages associated with the ships and other costs.

"Noble Group wishes to update that the vessels are, in the current market, profit generating and cash flow positive," it said in a statement. The vessels were still available for sale and the company has started discussions with interested third parties, it added.