Brokers note that the company Yongxiu Shipping has added its first bulker, taking the the Japanese-controlled, 78,000 dwt Tenyo (built 2003) from Daiwa Kisen. This is the first listed sale in years by Japanese line who managed to fetch a healthy $8.2m for the elderly ship.
The Tenyo had been inspected by a number of parties and had come close to being sold earlier in the year. The price appears firm as online portal VesselsValue sets the market level much higher for the ship.
Yongxiu Shipping’s current fleet consists of three elderly tankers, all flagging in China. In comparison Daiwa Kisen is listed with 14 bulkers, of which the Tenyo is the oldest.