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Golden Union paying $32.5m for brand new cape

Photo of Sam Chambers Sam ChambersAugust 1, 2016
7 Less than a minute
Star Bulk

Brokers are linking Greece’s Golden Union with a $32.5m raid for a brand new 180,000 Chinese-built capesize. Golden Union is believed to have paid Carval Investors the firm price for the Mustang, a New Times ship that was delivered earlier this year.

Golden Union, controlled by Theodore Veniamis, has been very active in the S&P markets this year, making the most of the low prices to bolster its 40-strong fleet. Mustang marks Golden Union’s fourth acquisition this year.

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Photo of Sam Chambers Sam ChambersAugust 1, 2016
7 Less than a minute
Photo of Sam Chambers

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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