Dry CargoGreater China

Chinese owner Yongxiu Shipping adds its first bulker

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.

Hans Thaulow

Hans Henrik Thaulow is an Oslo-based journalist who has been covering the shipping industry for the last 15 years. As well as some work for the Informa Group, Hans was the China correspondent for TradeWinds. He also contributes to Maritime CEO magazine. Hans’ shipping background extends to working as a shipbroker trainee with Simpson, Spence & Young in Hong Kong.
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