Dry CargoGreater China

Chinese player makes swift profit on first ship acquisition

Beijing-based Solebay has turned its recent shipowning entry into gold.

Six months ago the Chinese bulker player made headlines for its entry as a shipowner, after sealing the highest bid on a ship sold by Greathorse International Ship Management via auction, taking the 2011-built cape Tiger Liaoning, now Cape Spring, for $21m.

The Qingdao Beihai-built ship is now reported sold to undisclosed buyers for in excess of $30m with delivery scheduled for January 2022.

Solebay was founded in 1998 and specialises in dry bulk chartering.

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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