Dry CargoGreater China

Cido makes rare cape sale

Hong Kong-based Cido Shipping has showed signs that it wants to shrink its exposure to the cape segment for months, marketing half its cape fleet in the form of two Universal constructed vessels.

This week sources tell Splash, 75-ship strong Cido has sold the 14-year-old 176,300 dwt  Great Challenger for $12.5m.

The last similar cape sale was sealed at the end of May when the 177,000 dwt Cape Baltic fetched just $10.5m. Since the Cape Baltic was sold, the markets have shot up in the past month with capes now trading for in excess of $30,000 a day. 

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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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