bulker sale and purc
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2016-08-10 13:15:48

CarVal Investors, LLC, an investment arm of Cargill, has sold its newbuilding Capesize bulk carrier for a total consideration of US$32.5m, according to data released by VesselsValue.

The 180,000dwt ship, named Mustang, was purchased by Greece-based shipowner Chartworld Shipping Corporation.

Featuring 93,960 gross tons, the vessel is currently under construction at Chinese yard New Times Shipbuilding and it is scheduled for delivery during the year.

Mustang will join Chartworld's fleet of 64 vessels covering the dry bulk, tanker, reefer and container sectors.

2016-08-09 13:38:41

Kambara Kisen, the Japanese owners who also control Tsuneishi Shipbuilding, are in a selling mood. The line has put many ships up for sale this year on the back of the dry bulk slump. The latest three to go are a newbuild pair due for delivery this year and an 11-year-old handymax.

Two kamsarmaxes due for delivery soon have been bought by compatriot owner Nisshin Shipping for US$22m each. Like many other Japanese owners.

Kambara Kisen also invited bids last week for the Tess 52 design handymax Triple Ever with Clarksons Research indicating an unspecified Singaporean owner as the buyer for US$7.5m.

Kambara Kisen has sold 10 ships this year.

2016-08-09 13:37:48

German owner Schepers H Bereederungs has sold a six-year-old supramax bulker for $7m. Singapore's Wilmar International is behind the acquisition of the Chinese built Dolpin 57 design Kilian S ship, according to Clarksons Research.

Wilmar International is owned by tycoon Kuok Khoon Hong whose other interests include Raffles Ship Management.

2016-07-27 16:28:53

Monaco-based Gestion Maritime has sold the oldest bulk carrier in its fleet. According to some information coming from broker sources, the 2002-built panamax named Matilde Corrado will be offloaded to the South Korean Sinokor Merchant Marine for US$4.8m. Sinokor has been very active of late eyeing secondhand tonnage.

The deal has been confirmed by Danilo Fumarola, CEO of Gestion Maritime, even if he did not disclose the identity of the buyer.

"I can confirm the Matilde Corrado has been sold to Korean buyers," he said, adding, "This sale is part of our ongoing project aiming at a fleet renewal based on selling older tonnage and buying new ones, either bulk carriers or tankers. We experienced a small recovery in dry bulk secondhand asset prices in the last few months."

Talking about possible new investments, Fumarola added, "On the newbuilding market the prices are historically low as many interesting opportunities are emerging. That's the best possible scenario for a company like Gestion Maritime interested in building up a long-term business in shipping."

2016-07-27 16:21:51

Precious Shipping is pressing ahead with plans to make its fleet younger, sending a 30-year-old handysize Chalothorn Naree for scrapping for US$1.51m.

In a release to the Thai stock exchange, Precious said that the scrapping was "in accordance with the company's strategy to rejuvenate its fleet by selling its older vessels and acquiring younger and bigger vessels".

2016-07-26 15:16:45

China's shipping company Zhejiang Ocean Shipping Co (ZOSCO) has sold two of its Capesize bulkers to the South Korean shipping firm Sinokor Merchant Marine, show data provided by VesselsValue.

The vessels in question are Zosco Jiaxing and Zosco Shao Xing, each featuring 176,000 dwt.

Built in 2009, the bulkers were sold for US$14.9m each, slightly less than their market value of US$15.2m.

The two bulk carriers, with a length of 291.8 meters and a width of 45 meters, were built by Chinese shipyard Jinhai Heavy Industry.

With 91,971 gross tons, the vessels were a part of the company's fleet of 12 Capesizes.

Following the conclusion of the sale and the delivery of these two ships, Zhejiang Ocean Shipping will operate a fleet of ten Capesize bulk carriers ranging from 175,900 dwt to 180,400 dwt.

The company's fleet will now consist of 2010- and 2011-built vessels, all of which were built by Jinhai Heavy Industry.

2016-07-26 14:37:16

Brokers report that Sea Pioneer Shipping is paying Japan's Yamamaru Kisen just over US$5m for the 12-year-old Mulberry Paris panamax bulker. The ship was built at Tsuneishi's Japanese yard.

Shipping database Equasis shows that Hiroshima-based Yamamaru Kisen has 27 bulkers in its fleet.

2016-07-25 17:34:23

Multiple broking outlets link fast expanding BW Dry Cargo as the buyer of the 81,344dwt United Legacy, the latest ship sale forced through by creditors of bust Japanese tonnage provider United Ocean Group. BW Dry Cargo, founded three months ago, is paying US$17.5m for the Oshima-built kamsarmax.

The sale is the third kamsarmax offloaded by United Ocean in the past two months. United Ocean founded in 1995 by Indian national Vipan Sharma, filed on Dec. 31 last year for court protection in Tokyo, saddled by debts of more than US$1bn.

"We can't comment on single deals, only on strategies," said the head of BW Dry Cargo Christian Bonfils.

2016-07-25 17:32:35

In a rare example of a Vietnamese owner performing an asset play, Haiphong-based Viet Long JSC has pocketed a tidy US$1m profit from a quick bulker turnaround.

The Southeast Asian owner bought the Bianco Venture handy bulker at the start of the year for US$5.2m. The Oshima-built ship, rechristened Great Pride, has now been bought by Hong Kong's Taylor Maritime for US$6.2m, according to brokers.

Founded by Edward Buttery two and a half years ago, Taylor Maritime has quickly built up a fleet of Japanese handies.

2016-07-18 16:30:48

Japan-based Shoei Kisen Kaisha has sold a 10-year-old Imabari-built supramax to Bangladeshi interests for US$7.7m.

Meghna Group, a diverse conglomerate with interests in commodities, food, aviation and real estate, has taken the Maple Grove. The ship has a special survey due this year, Clarksons Research noted. Meghna's shipowning arm is called United Shipping Lines.

Shoei Kisen is the shipowning arm of Imabari Shipbuilding.

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