Capesize S&P deals dominate

Investors in the cape market threw cash on the table last week before the Chinese New Year kicked in.  

More than 10 capes have been reported sold this month.  Last Monday, Splash noted that New York-based Foremost sold two Shanghai Waigaoqiao Shipbuilding-built sisters, the 176,552-dwt non-scrubber fitted sisters Yue May and Guo May. 

Since then, container specialist Danaos has been tied to Guo May, and a third sister ship named Zhong May has been added to the sale tally. Brokers have also tied Peter Doehle to this bulker.

In addition to the three non-scrubber fitted capes, the company has cashed in some $73m for two 206,000 dwt newcastlemaxes from the same yard built in 2011 and 2012, the Lan May and Qing. Winning is tied to the duo, marking the Chinese player’s third purchase this year.

Late last week, Splash revealed that Korean cape player Polaris had sold four 2020-2021 Chinese-built newcastlemaxes. The taker of the ships is still to be revealed.

The month started with a sale by Greek dry bulk giant Star Bulk Carriers offloading its 17-year-old capesize, the Shanghai Waigaoqiao Shipbuilding-built Big Bang. Since then, Pacific Bulk Carriers has been tied to the deal. Days later Jinhui Shipping and Transportation was reported expanding its fleet with a capesize purchase from Taiwan’s Hsin Chien Marine. The Oslo- and Hong Kong-listed outfit has snapped up the 181,279 dwt 2012 Imabari-built New Delight for $30.95m.