Dry CargoGreater China

EGPN seals first asset play

One of Chinas fastest-growing private owners, EGPN Bulk Carrier, has sealed its first asset play.

Seasure Shipbroking, Advanced Shipping & Trading, Intermodal and Lorentzen & Stemoco all reported this week that Chinese owner EGPN Bulk Carrier sold its 2012-built 56,700 dwt supramax bulker Eastern Edelweiss to compatriot buyers for $11.8m.

The same Jiangsu Hantong-built ship was bought for a little over $8m in June, according to VesselsValue.

Active EGPN’s six-strong fleet today covers everything from handysize to capesize. It has almost doubled the size of its fleet each year since it became a shipowner in 2017.

Earlier this year, EGPN took a 10-year-old cape from Greathorse. Formerly called Tiger Jiangsu, the ship has now been renamed Eastern Freesia.

EGPN Bulk Carrier was established in Hong Kong in 2014 as a joint venture between Eastern Ocean Transportation, a large Chinese nickel ore ship operator, and Great Pacific Navigation, a grain player.

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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