Firming dry bulk market sees Dong-A reverse cape sale plans

Firming dry bulk market sees Dong-A reverse cape sale plans

A seemingly firming dry bulk sentiment seen in recent days, with the Baltic Dry Index surpassing 600 points, has seen some owners change their plans.

Notably, South Korea’s Dong-A Tanker has decided to ditch plans to sell two capesizes. Last week, Splash reported Dong-A was close to selling the Dong-A Ether and its sister ship, Dong-A Leto for around $22.5m each to Singapore-based Winning.

Sources now tell Splash the deal failed on sellers subjects having been fixed by brokers Affinity.

“The seller’s decision after the improvement of the market was to freeze all selling developments for the time being,” a source tells Splash. Other owners are reviewing fleet offloading plans at the moment too.

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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1 Comment

  1. Avatar
    Thomas
    April 18, 2016 at 9:24 am

    what fundamentals have been changed in dry bulk market the last two months(since the all time low) to justify such optimism ?