AsiaDry Cargo

Binh Minh makes rare asset play

Binh Minh International Sunrise Shipping, a Vietnamese handysize specialist, is making a rare asset play, trying to sell a ship it bought just two years ago.

The majority of ships sold to Vietnamese accounts tend to be reflagged and traded for the same owner until they are scrapped.

Fast growing Binh Minh bought six bulkers around 10 years of age, between 2013 and 2018, some of which were deployed to serve a major contract to transport cement, steel and iron ore around Asia.

Binh Minh has put the 13-year-old 19,000 dwt handysize BMC Endora up for sale, a ship it bought two years ago for just over $6m. The vessel has just had a ballast water treatment system installed and will head to China where the company is inviting interested parties to inspect the ship.

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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