Fast developing BW Dry Cargo has paid $12m for another supramax.
Founded by BW Group this April, BW Dry Cargo has targeted ships in the 50,000 dwt to 90,000 dwt range and been among the most aggressive buyers of tonnage this year. This time around BW Dry Cargo has bought the six-year-old, 58,096 dwt Pearl Halo from Japan’s Nissen Kaiun and since renamed it BW Flax.
Unlike previous buys, the ship was not built in Japan. This supramax was still built by Japanese shipbuilders, albeit in the Philippines – the vessel delivering from Tsuneishi’s facility in Cebu.
The clamour for Japanese bulker tonnage has reached a peak, whereby owners are increasingly having to look at ships built outside of Japan.