Dry CargoEurope

Economou moves for another newcastlemax

For the second week in a row, Greek shipping mogul George Economou is linked to a newcastlemax.

Over the weekend the 14-year-old, Japanese-controlled newcastlemax, Baosteel Evolution was reported sold for around $19.5m.

Last week the one year older sister ship, Baosteel Elevation, fetched around $19m.

In the last six months, two bulker outfits belonging to the Economou Group have been active in the secondhand market: delisted Dryships and TMS Dry. Dryships is identified as the buyer of ships in the cape segment, while both are listed adding traditional sized panamaxes.

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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