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First cape sale of the year lands Samos Steamship a $10m profit

First cape sale of the year lands Samos Steamship a $10m profit

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Sources confidently tell Splash about a successful asset strategy by Samos Steamship. The traditional Greek owner has just offloaded a ship it added at the beginning 2016. The sale is the first reported cape deal in 2018.

Athens-based Samos had to pay about $12m for the Mitsui-built, 177,000 dwt Shin Sho a couple of years back and then renamed the ship Kerkis. Now the same ship is reported sold for about $22m, enough capital to add another ship to its diverse fleet that consists of 13 bulkers and 15 tankers, according to data from VesselsValue.

Samos, which can trace its history back to 1857, has not made any moves in the sales and purchase sector for quite some time. In comparison the tipped taker of the 11-year old cape, Korean owner H Line has been active buying ships, adding two 2010-built capes, and scrapping the same number of capes. H Line’s tally of capes now counts 32 vessels.

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Hans Thaulow

Hans Henrik Thaulow is an Oslo-based journalist who has been covering the shipping industry for the last 15 years. As well as some work for the Informa Group, Hans was the China correspondent for TradeWinds. He also contributes to Maritime CEO magazine. Hans’ shipping background extends to working as a shipbroker trainee with Simpson, Spence & Young in Hong Kong.

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