AsiaDry Cargo

Eastern Pacific bags punchy $26.75m for 2016-built ultra

Photo of Sam Chambers Sam ChambersOctober 19, 2018
16 Less than a minute

Idan Ofer’s Eastern Pacific has notched up what brokers describe as a “very good price” for an Imabari-built, two-year-old ultramax.

Eastern Pacific gave the 63,503 dwt Dragongate to brokers Clarkson to sell with the UK broking outfit managing to get Giorgos Koumantaros’ Atlantic Bulk Carriers to fork out $26.75m for the 200 m-long vessel.

Pireaus-based Atlantic Bulk Carriers has three ultramaxes in its fleet already, as well as a range of panamaxes and supramaxes.

“Sentiment is good for ultras and as the market is flooded with 56s, these will get a good premium,” one broker commented on the healthy price achieved for the Dragongate.

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Photo of Sam Chambers Sam ChambersOctober 19, 2018
16 Less than a minute
Photo of Sam Chambers

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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