Dry CargoMiddle East

GMS linked to handy buy

Broker sources link GMS, best known as a cash buyer for demo ships, to a handy sold at a US auction.

Details are emerging from the sale of a bulker arrested in the US. GMS is understood to have paid $16.4m for the nine-year-old, 35,000 dwt Marine Princess.

The Cosco Guangdong-built vessel, which was arrested on behalf of Bank of America, saw more than 10 owners willing to bid. The ship was previously registered to Turkish account Semih Sohtorik.

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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