AsiaDry Cargo

ArcelorMittal linked to six Essar mini-capes

Earlier this year, broker sources revealed that India’s Essar Shipping was tempting the market, marketing its six mini-capes, all 106,000 dwt ships built between 2011 and 2012 for sale. This was an eyeraising offer as mini-cape sales are rare. Now multiple brokers report the ships sold for $81m en bloc.

The STX Dalian-built ships, named Kamlesh, Ishwari, Shravan, Kishore, Ashok and Arun, have been sold to steel and mining giant ArcelorMittal.

ArcelorMittal tends to spend its efforts on chartering, operating and managing ships, with an asset-light shipping profile traditionally.

According to data compiled by shipping database there are 16 bulkers owned by ArcelorMittal.

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.
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