2013-built Chinese panamax fetches $18.5m

2013-built Chinese panamax fetches $18.5m

Qingdao Lizhou, a small Chinese dry buk entity, has sold a three-year old panamax to Germany’s Intermare Transport. The German outfit is paying $18.5m for the Chinese-built, 76,000 dwt Peace Bright.

The deal includes a seven-year time charter deal, coming in at $15,380 a day, deemed a decent rate by brokers looking at today’s depressed dry bulk market scene. Qingdao Lizhou controls a fleet of five bulkers.

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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1 Comment

  1. Avatar
    Andrew
    October 19, 2016 at 12:41 pm

    Interesting – but strange that ADM would purchase together with the charter – onto who I wonder…?