$177m Rosco fleet deal falls through

$177m Rosco fleet deal falls through

A $177m deal reported in February for the entire fleet of Chinese owner Rewood Ocean Shipping (ROSCO) has fallen through.

“Please note that the deal we reported in February at around usd 177m enbloc has now failed as buyers didn’t lift their subjects,” a circular from brokers stated.

John Michael Radziwill had been linked by brokers to the deal via C Transport Maritime.

The ROSCO fleet consists of seven panamaxes, three kamsarmaxes and one capesize. All of the vessels are Japanese-built with the exception of two kamsarmaxes which were built at Tsuneishi’s yard in Zhoushan.

ROSCO is now be willing to consider splitting the fleet up and selling in smaller batches according to each vessel segment.

Hebei-headquartered Rewood Ocean Shipping is a subsidiary of Chinese private grain products trader Hopefull Grain and Oil Group. The company has been struggling and closed its Shanghai office to cut costs in 2016.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.

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