AmericasDry Cargo

Genco offloads seven handies

US-listed Genco Shipping & Trading is offloading seven handysizes, according to VesselsValue’s sales register.

UK-based Tufton Oceanic is linked to six of the seven ships, according to Allied Shipbroking. The nine- and ten-year-old 34,400 dwt vessels Baltic Fox, Baltic Cove, Genco Ocean, Genco Avra and Genco Spirit, are noted swapped for three ultramaxes.

VesselsValue roughly estimates that the handysize bulkers could be worth on average around $9m each. This is the second time this year that Tufton has laid its trust in the handysize bulk carrier segment.

 In October Tufton Oceanic Assets, the public branch under the Tufton umbrella, announced the acquisition of a bulk carrier for $10.6m, another 10-year-old handy. The swapped ultamaxes appear to be the six year old TR Niklas, now Genco Magic and TR Prince, and TR Princess.

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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