Dry CargoEurope

Economou pounces for kamsarmax resale

George Economou has pounced for another bulker. Via Cardiff Marine, the Greek tycoon has taken an 82,000 dwt resale kamsarmax, BSI Lennox, from Berkeley Shipping for $26.5m. The ship, equipped with an electric engine, is due to deliver from China’s Hudong-Zhonghua shipyard shortly.

Clarkson Research noted in its weekly report how this sale highlights fast rising prices for kamsarmaxes. The BSI Lennox’s sister unit, Alpha Ethos, another resale, was sold in January this year for $20.7m, also with a prompt delivery.

Last week, another Economou vehicle, DryShips, bagged four newcastlemaxes for $124m.

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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