Celsius Shipping makes $10m on sale of supramax pair

Celsius Shipping makes $10m on sale of supramax pair

Breakwater Capital’s Celsius Shipping has made around $10m in just under two years with the sale of 2012-built supramax pair GH Secretariat and GH Phar Lap.

Brokers are reporting that Celsius has sold the Chinese-built vessels to Dubai-based Eships for around $13m each, having bought the vessels from Germany’s Conti (named Conti Flint and Conti Fuchsit) in August 2016 for just $8m each.

Celsius have had the vessels up for sale for some time, and a deal secured late last year at $13.3m each fell through.

The acquisition is a major step for Eships who currently have just one dry bulk vessel in its fleet, the 2011-built panamax Eships Dugon.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.

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