George Economou tied to another United Ocean bulker

George Economou tied to another United Ocean bulker

Greek magnate George Economou has been linked to a bank driven sale of a kamsarmax, handled by trustees of the struggling United Ocean Group from Japan. Sources say the Greek shipowner’s private comapny Cardiff Marine is paying $23.5m for the three-year old Japanese built bulker,  United Spendour which is the same price as online portal VesselsValue sets its market value for the ship.

The sale comes three weeks after Economou took a newbuilding for $26m, the 81,600 dwt BSI Lennoxm from Berkeley Shipping.

Economou has been busy acquiring ships all year. His public company, DryShips, has announced spending $124m on bulkers,  and there are still plenty more ships linked in his direction.

Earlier this year DryShips took a similar sized and aged bulker also from the shrinking United Ocean fleet which sought court protection in Tokyo 16 months ago.

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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