AsiaDry Cargo

Berge Bulk in for two capes

Cape prices have been firming over the past week as have rates. Healthy activity in both basins saw capesize average earnings up 13% week-on-week to $17,000 a day last week.

James Marshall’s Berge Bulk tops many broking reports for the company’s decision to dive back into the secondhand market in recent days. Berge Bulk is widely linked to two semi-modern workhorses that have been in the shop window for months.

Numerous brokers note the Singapore-headquartered giant as the taker of a ship belonging to Hong Kong cape specialist Peter Mok, and his Vision Ship Management, adding the 10-year-old, Dalian-built 180,300 dwt Xin Tai Ha for just over $21m.

Berge’s 55-strong capesize arm is also noted tapping Taiwan’s Hsin Chien Marine, tabling a little over $27m for the eight-year-old, Mitsui-built 176,400 dwt New Expedition.

Berge Bulk has now bought four ships this year for a total of around $80m.

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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