AsiaDry Cargo

Eastern Pacific clears out its handy fleet

There has been a noticeable upturn in bulk carrier sale and purchase activity in the past two weeks

One significant player filling up the sidelines in numerous broking reports is Eastern Pacific Shipping (EPS). Brokers reveal that the Idan Ofer-owned outfit has now exited the handysize segment, selling three Japanese-built, 28,000 dwt units.

The 2011-built Westgate and Stargate have gone to Greek interests for close to $7m each, while the 10-year-old Crystalgate was taken by Vietnamese interests for just over $6m.

As well as clearing out its handies, Eastern Pacific has been marketing most of its other smaller bulkers for sale this year, concluding the sales for two ultramaxes and a supramax.

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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