Dry CargoGreater China

Agricore doubles down on capes

Chinese owners are among the most active bidders in the capesize segment with several new, low key players adding their first capes recently. 

This week sources tell Splash that Hong Kong-based Agricore  has made its first purchase in a year, sealing its second cape deal. 

The Chinese owner is behind last week’s sale by Cido Shipping who let go of the Japanese built 176,300 dwt Great Challenger for around $12.5m.

Agricore bought the 2004 Chinese-built MSXT Vivienne for the same price level at the same time last year.  The new addition will join two other panamaxes and one supramax and one cape in Agricore’s fleet. 

Agricore’s business has developed rapidly since it was first registered some years back. The outfit entered shipowning with its first bulker buy in 2018.

Hans Thaulow

Hans Henrik Thaulow is an Oslo-based journalist who has been covering the shipping industry for the last 15 years. As well as some work for the Informa Group, Hans was the China correspondent for TradeWinds. He also contributes to Maritime CEO magazine. Hans’ shipping background extends to working as a shipbroker trainee with Simpson, Spence & Young in Hong Kong.

Comments

  1. Agricore is an interesting outfit.
    They seem to be growing quite a lot and they charter in tonnage too.

    I’m not sure who is behind them

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