Celsius Shipping has been linked by brokers for a bulker bargain buy from China's troubled Sainty Marine Corporation.
Sources say that the Danish outfit is behind the purchase of two Chinese-built ultramax newbuildings, Ichaya Naree and Inkarat Naree, for US$16.5m each. It is also said to have bought two more bulkers built at the yard, Sainty Victory and Sainty Valiant, for US$12.5m each. All the ships were originally ordered by Thailand's Precious Shipping and are around 64,000dwt in size. Precious had rejected the ships as they didn't meet quality standards.
Wilson has sold its 40-year-old singledecker bulk carrier Wilson Rough to an unnamed Marshall Islands-registered company for US$518,500.
The vessel was due to undergo its special survey on Nov. 30, but Wilson said that the vessel's age did not make it viable to take into dry dock.
The ship was sold below its book value and will give an accounting loss, Wilson said. VesselsValue.com estimates the ship's current market value at $680,000, the same as its demolition value.
Net proceeds from the deal will go towards paying off debt on the ship, according to the Oslo-listed owner.
Following the sale, Wilson will operate a fleet of 113 ships, of which 79 are owned and controlled by the company.
SR Shipping is said to be the buyer of United Ocean Group supramax Ocean Paradise, sold at auction in Tokyo last week for US$9.2m.
The vessel attracted a tremendous amount of interest from owners across the world with some 15 inspections taking place in Hong Kong prior to its sale. Built nine years ago at Tsuneishi Cebu in the Philippines, the ship is the fifth sold by United Ocean Group since it went bankrupt at the end of last year.
SR Shipping, part of Bangladeshi outfit Kabir Group, has been regularly picking up secondhand supramax vessels throughout the year with a focus on Japanese-built ships.
Greek owner FreeSeas has sold 1998-built handysize bulker Free Maverick to unrelated third parties for a price of US$1.925m.
The vessel's mortgage has now been discharged.
It is the third vessel FreeSeas has sold in the past three months. In June, it has sold two aged vessels to an undisclosed party.
FreeSeas now operates just two handysize vessels while also owning a controlling stake in Standcorp International, a company commercially operating tankers.
Jinhui Shipping and Transportation has inked an agreement with Marshall Islands-registered AIGAION Shipholding, a company controlled by Fundafor Compania Naviera, for the disposal of a panamax bulker.
The selling price of the 75,008dwt Jin Chao is US$12.8m and the vessel will be delivered between Oct. 17 and Nov. 30.
Jinhui Shipping said it would realize a total book loss of US$9m from the disposal of the vessel.
The company intends to use the proceeds from the sale for the repayment of vessel mortgage loan and as general working capital.
In September, Jinhui Shipping sold two supramax vessels to companies controlled by the UK's Tufton Oceanic, and one handmax bulker to Gelico Shipping.
Thailand's Precious Shipping reportedly plans to sell its nine supramax bulk carriers and replace them with secondhand ultramaxes, having already sold 12 of its handysizes so far this year.
"In the next two to five years, whenever the shipping cycle goes up and returns are good, we will sell the supramaxes and replace them with more ultramaxes," Precious' managing director Khalid M Hashim (pictured) told the Marine Money Asia conference in Singapore, according to Platts reports.
"Ultramaxes can carry around 15-20% more volume than supramaxes while they are also fuel efficient, consuming up to 20% less bunker oil," the MD said, quoted by the news service.
The company does not have any intention of entering the capesize market, Hashim told delegates.
At least 11 of the handymaxes Precious has sold this year have been bound for demolition, and Hashim said in the coming months the company would scrap one or two more. A couple of 1997-built handys still remain in its fleet.
The Bangkok-listed company has said its strategy is "to rejuvenate its fleet by selling its older vessels and acquiring younger and bigger vessels".
The average age of Precious' fleet has come down from 21 years in 2008 to 7.5 years currently, Hashim told the Marine Money conference.
The company aims to increase the proportion of vessels that are chartered out on long-term contracts from the current 20% to around 70%, the MD said.
Greek owner DryShips has announced that it has sold the 2002-built panamax drybulk carrier MV Oregon.
The vessel, along with the associated bank debt, was sold to an entity controlled by the company's chairman and ceo, George Economou.
The vessel was sold for a 10% premium to fair market value, as supported by independent third party broker valuations.
After the transaction the company's senior secured revolving facility agreement stands at $10.8m.
Hong Kong handy specialist Taylor Maritime has unveiled plans for the rapid expansion of its fleet.
Founded in 2014, Taylor Maritime has grown its fleet of Japanese-built handsize bulkers to nine ships in less than two years. Taylor Maritime was founded by Edward Buttery, who said that he is spending considerable time preparing for a rapid fleet build up.
"By the end of next year, we plan to have a fleet of 15-20 vessels," Buttery said, effectively doubling the company's fleet size.
"We also intend to have enough funds on hand to be able to add an additional 10 vessels," added Buttery.
In terms of finding ships, Buttery conceded that he will have to consider Chinese built ships, "as long as they meet certain quality criteria for our customers."
Buttery was not too optimistic on the general dry bulk market saying, "Nobody knows when a recovery is coming, so we have to work on ensuring we have the legs to last by implementing a responsible capital structure within the group."
Diana Shipping has bought a capesize resale at a price of US$34m from Cobelfret, according to brokers' reports.
The 180,000dwt Lowlands Audacity was launched at China's Shanghai Waigaoqiao Shipbuilding earlier this month, according to shipping databases.
The vessel was originally ordered by Greece's Gleamray Maritime for US$47m in 2013, before being sold to Cobelfret for US$43.5m last August, after a mooted sale to Navios Maritime failed.
The vessel's US$34m sale price is a small advance on the US$32.5m paid by Chartworld Shipping, which bought another China-built cape resale (Mustang, 180,000 dwt) from CarVal Investors in early August.
Brokers link Tan Binh Shipping to the purchase of the Japanese-controlled, 32,000dwt Karine Bulker, its second handy acquisition of the year.
Tan Binh, which focuses on Japanese tonnage, was the most active Vietnamese buyer last year, taking on a steady stream of six elderly ships, including one bulker even bought without inspection.
Its only reported purchase this year was in March, when it snapped up the similar sized Angel Jupiter now renamed Tan Binh 234 and flagged domestically.