BW Dry takes Japanese kamsarmax

BW Dry takes Japanese kamsarmax

Multiple broking outlets link fast expanding BW Dry Cargo as the buyer of the 81,344 dwt United Legacy, the latest ship sale forced through by creditors of bust Japanese tonnage provider United Ocean Group. BW Dry Cargo, founded three months ago, is paying $17.5m for the Oshima-built kamsarmax.

The sale is the third kamsarmax offloaded by United Ocean in the past two months. United Ocean founded in 1995 by Indian national Vipan Sharma, filed on December 31 last year for court protection in Tokyo, saddled by debts of more than $1bn.

“We can’t comment on single deals, only on strategies,” said the head of BW Dry Cargo, Christian Bonfils.

Bonfils joined BW Group from April 1 as the head of newly established BW Dry Cargo, which is looking to establish itself as an owner of bulk carriers between 50,000 and 90,000 dwt.

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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