One of China’s fastest growing owners has sealed its fifth supramax at a cheap price. Su Ning-led Front Line Capital has bought the popular Dolphin 57 type, 57,000 dwt Qingshan supramax, Suprastar for $7.2m, and renamed it FLC Celebration. Pricing portal VesselsValue estimates the ship is worth more than a million more today.
Splash understands Credit Agricole was the financier pushing to sell this ship on behalf of Serono Shipping.
Su, the ex-head of CMB Leasing, has repeatedly proved that Front Line Capital has a strong sense of business acumen since the outfit quietly added its first ship in 2017.