EGPN Bulk Carrier breaks cover in Hong Kong

EGPN Bulk Carrier breaks cover in Hong Kong

A low profile mainland Chinese owner based in Hong Kong has made notable moves in the dry bulk market in the past few days.

EGPN Bulk Carrier has taken a pair of three-year-old kamsarmax sisterships – the Smooth Vitality and Smooth Velocity for just shy of $14m each. The deal comes with a time charter attached at $5,500 per day until January next year.

The two 82,000 dwt bulkers are the last remains from bust Sainty Marine’s fleet buildup and were built at Sainty’s now defunct yard in China.

Last week EGPN chartered in a modern cape for 11 to 13 months, while at the beginning of the month it fixed another ship for four to six months.

The private Chinese outfit was registered in Hong Kong a few years ago and was formed as a result of a merger between two Beijing-based charter operators.

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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2 Comments

  1. Avatar
    peter
    March 29, 2017 at 10:29 pm

    what are the names of the two Beijing operators that formed EGPN ?
    tks
    Peter

  2. Sam Chambers
    Sam Chambers
    March 30, 2017 at 3:36 am

    I believe Eastern Ocean is one … as for the second, I am struggling!