Asian owners ready cape sales

Asian owners ready cape sales

A couple of weeks after the first capesize sales of 2019 were finally recorded, led by Fred Cheng’s Shinyo International, Splash understands that a host of Asian owners are now willing to offload cape tonnage in the depressed market.

Hebei Ocean Shipping (Hosco) is circulating one capesize for sale to raise cash. Sources tell Splash that Hosco’s nine-year-old 182,100 dwt Ocean Emperor is for sale.

Another cape sale candidate is Bulk Success, a ship listed owned by troubled HNA Group from Shanghai. The 2014-built vessel is inspectable in Qingdao shortly with a price tag from brokers in the region of $25m, significantly less than the $28.63m price VesselsValue sets for the bulker. The ship is now under the control of an unidentified Korean financier, as are three other 2015-built HNA panamaxes, the Zhen Bang, FH Fang Cheng and FH Ri Zhao.

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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