State-run Korea Development Bank (KDB) has sold three capesizes that were part of defunct Hanjin Shipping’s fleet. The sales were handled by Clarksons Platou.
Korea Line Corp, owned by Samra Midas Group (SM Group), has taken the 179,194 dwt Hanjin Rizhao and its sister, Hanjin Dangjin, for $26.5m each while American investment bank JP Morgan is understood to have paid $29.5m for the five-year-old 179,100 dwt Hanjin Esperance.
For SM Group, the demise of Hanjin has proved a good bargain basement to snap up cheap tonnage. It launched this year a containerline, SM Line, on the back of Hanjin’s collapse, taking many of liner’s ships in the process.