Dry CargoGreater China

EGPN Bulk Carrier breaks cover again

Chinese dry bulk specialist EGPN Bulk Carrier has snapped up its first supramax bulker. The Hong Kong registered outfit is linked to the 2010-built EM Amber from China’s Minsheng Trust, for about $12m.

The diverse mainland player broke cover for the first time about a year ago taking the Sirocco – formerly called Smooth Vitality – from bust Sainty Marine Corporation. It was also reported buying a sister ship for a quick four-month asset play.

EGPN Bulk Carrier officials tell Splash they are in the market for more ships too.

The seller of the EM Amber has timed the market well with Minsheng paying just $8m a couple of years ago for the vessel. Splash understands Minsheng has found a buyer for the EM Amber’s sister ship, the EM Jade, though no details have yet emerged.

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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