Chronos buys its youngest ship to date

Chronos buys its youngest ship to date

Greece’s Chronos Shipping has bought its first ship of the year, adding a five-year-old kamsarmax bulker from Japan’s Nissen Kaiun’s ongoing fire sale.

The Japanese mammoth has sold six bulkers since September last year and still has plenty of ships for sale.

This latest deal concerns the 82,000 dwt Crystal Star committed at $24.5m, in line with market levels according to VesselsValue, albeit at a steep discount from just a couple of months ago.

“This is the first sale of a 5 year old Japanese built ‘eco’ type for some time. The last ‘eco’ type sold was the OLGA V (81,645 dwt, built 2017, Namura Shipbuilding), in November 2018 for a price of $30m,” Clarkson Research noted in its latest weekly report.

The ship is the most modern in the Chronos fleet and takes the company’s fleet to seven ships, all Japanese-built.

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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