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.