Cargill buys panamax pair

Cargill buys panamax pair

Cargill has bought a pair of panamaxes – a rare foray into vessel ownership for the massive dry bulk shipper. Cargill is paying $15m each for the Golden Trader I and Golden Trader II, both built in China five years ago and owned by Japan’s Nisshin Shipping.

Cargill’s fleet – predominantly chartered in – is one of the largest in the world including around 180 panamax bulkers at any given time.

“They have aggressively taken long period over the last while so these buys must be an extension of the same mentality,” a source told Splash.

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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