China’s EGPN Bulk Carrier has gone back to its roots adding ships in the bulk segment, securing three capes at a time when spot rates are stabilising at healthy levels.
The Chinese owner, who earlier this year splashed out some $320m on a string of chemical tanker newbuildings, has decided it’s time to fatten its cape arm, bringing it up to four ships, adding a trio of New Times Shipbuilding-built capes built between 2010 and 2011 from Bocimar. Sources tell Splash EGPN Bulk Carrier has tabled some $59m for the 175,000 dwt sister ships, Mineral Destelbergen, Mineral Temse, and Mineral Brugge.
EGPN Bulk Carrier first became a shipowner in 2017, initially focusing on bulk carriers before entering the tanker trades two years ago.
