BW Dry Cargo takes another supramax

BW Dry Cargo takes another supramax

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.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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