Graig puts handysize pair on the market as newbuild ultramaxes near delivery

Graig puts handysize pair on the market as newbuild ultramaxes near delivery

Cardiff-based Graig Shipping has put its two handysize bulkers on the market as it prepares to take delivery of the first of four Diamond 2 ultramaxes from China’s Wuhu Xinlian Shipbuilding.

Brokers are circulating the 2012-built sister vessels Graig Rotterdam and Graig Cardiff, the only two vessels in Graig’s fleet at the moment, with an indicative price tag of around $10m each. The vessels have a fair market value closer to $10.5m according to VesselsValue.

Graig CEO Hugh Williams confirmed to Splash today that the vessels have been put up for sale this week. The Seahorse 35 design vessels were built at Jiangdong Yard, part of a series of eight, and have “traded smoothly” since 2012 according to Williams.

“Graig is seeking to capitalise value through the timely sale of its two ships to support the further development of the Diamond 2 programme and other corporate developments within the Graig Group of companies,” Williams told Splash.

Graig has a series of four Diamond 2 ultramaxes under construction in China, with the first one due for delivery later this year. The 63,200 dwt bulkers have been designed in partnership with DNV GL for maximum efficiency, taking into account present and future regulation.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.

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