AsiaDry Cargo

Apeejay Shipping confirms panamax acquisition

Apeejay Shipping, a shipping unit of India’s Apeejay Surrendra Group, has confirmed the acquisition of a secondhand 76,602 dwt panamax bulk carrier.

The 2005-built vessel Darya Uma, acquired from Hong Kong’s KC maritime, has been renamed  APJ Kabir Anand and increases the company’s fleet to nine vessels with a total capacity of 594,558 dwt. Splash reported the deal earlier this month.

“This is a good time to own quality assets. A positive movement in the freight market due to general increase in demand as a result of growth in world economy and a drop in the supply, freight market is expected to be favourable for the industry in the coming years. 2018 is being projected to end as a strong year for dry-bulk shipping and 2019 is expected to follow suit. We are well poised to take immediate advantage of the positive trend in the dry-bulk market with judicious addition to the fleet with second hand tonnage at good prices. We are keeping our focus on expansion and growth and are on the look out to purchase right vessels at the right time” said Karan Paul, chairman of Apeejay Shipping.

Apeejay Shipping has been expanding its fleet, having acquired three panamax vessels since September 2017.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
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