Wellard Limited
(ASX:WLD) has signed an agreement to sell one of its livestock vessels, the M/V Ocean Outback, for $34.9 million ($US26 million).
The producer and distributor of livestock and grain, has sold its vessel to Israeli company Dabbah Slaughterhouse Limited.
Wellard says sale of the mid-sized vessel, is part of a review to match its shipping capacity with current market conditions and future fleet additions.
The company says it expects sale of M/V Ocean Outback to occur in the first quarter of 2018, with funds used for working capital.
Shares in Wellard Limited
(ASX:WLD) are trading 5.2 per cent higher to 20 cents.
