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Hong Kong owners circle Tokyo auction ship

Photo of Sam Chambers Sam ChambersSeptember 26, 2016
3 Less than a minute

An auction today in Tokyo is expected to see plenty of Hong Kong owners face off for a supramax bulker.

The court taking care of the receivership of United Ocean will auction off a 58,701 dwt ‘Tess 58’ design bulker called Ocean Paradise. Built nine years ago at Tsuneishi Cebu in the Philippines, the ship will be the fifth sold since the Japanese tonnage provider went bankrupt at the end of last year.

Four kamsarmaxes have already been sold.

Clarksons Research reports the Ocean Paradise has attracted substantial interest in Hong Kong recently, with in excess of 15 inspections taking place.

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Photo of Sam Chambers Sam ChambersSeptember 26, 2016
3 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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