Chinese owners are selling capes. March was an active month for Chinese accounts, with a string of prominent players tapping into the ongoing upturn for cape prices.
Owners deciding to let go include Hong Kong cape specialist Peter Mok, and his Vision Ship Management, who has let go of one of his three remaining Chinese-built capes, the 2009-built, 180,300 dwt Xin Jin Hai for $23m.
Ningbo Zrich has also decided to sell, offloading the one-year younger, New Times-built Rosebank for around $23m. This ship was bought in 2020. Beijing-based Minsheng Finance Leasing bought two modern capes and bareboated them back to Ningbo Zrich Shipping for $17m each.
A couple of weeks ago Lila Global added the 2006-built CHS Splendor, built at IHI Marine in Japan, for $18m from COSCO.
