AsiaDry Cargo

Bashundhara continues fleet buildup

Weekly broking reports have been filled this year with Bangladeshi companies picking up vintage Japanese built tonnage. This week is no exception and yet again it’s a supramax that will be ready to be renamed and reflagged, with Bashundhara Group named as a buyer this week.

This time it’s one of Pacific Carriers’ (PCL) oldest ships in the shop window. The Singapore owner managed to get $4.7m for the 50,300 dwt supramax bulker Atlantic Mazatlan. In 2012 PCL was reported paying in excess of $14.3m for the same ship.

This is not the first time one of Bashundhara’s shipowning arms has been shaking hands with Singapore owners selling ships. In July another vintage PCL supramax, the Oshima-built, 51,000 dwt bulker Atlantic Altamira, was sold to the same outfit for just under $4m. This ship has since been renamed Worldera 1. The same month it also took the 48,000 dwt bulker Blue Sapphire for some $3m. This ship has since been renamed Worldera 2.

The ship owning arm of the outfit taking Atlantic Mazatlan is named Symphony by brokers, and counts seven ships in its fleet.

The diverse Bashundhara Group started as a real estate venture in 1987. It has since moved into many other businesses, notably cement, for which it has another 14 general cargo carriers.


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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