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Aswan picks up Hyundai Glovis post-panamax bulker

Qatar limestone specialist Aswan Trading and Contracting has acquired Japanese-built post-panamax bulker Glovis Donghae, according to brokers.

Both Seasure Shipbrokers and Advanced Shipping & Trading are reporting that Aswan has forked out a little over $11m to Korea’s Hyundai Glovis for the 2004-built vessel. Seasure is reporting a price of $11.2m, despite a VesselsValue valuation of $9.2m, while Allied is reporting a price of $11.3m.

Hyundai Glovis acquired the vessel (formerly named Eternal Power) for just $6.2m in April 2016.

Aswan currently has a fleet of two vessels, made up of one handysize bulker and one post-panamax bulker.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.
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