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Greeks dominate cape purchases in 2020

It’s been a busy year in the cape segment. Close to 50 deals have materialised throughout 2020. Greek owners dominate, bidding highest on just under 50% on all capes circulated for sale, according to data from brokers Intermodal this week.

Cash-rich Greeks have preferred ships less than 15 years of age. Moundreas Shipping, Star Bulk, Golden Union, Tsakos Shipping and Trading, and Navios are among this year’s well known Greek cape buyers.

German accounts have been the most active sellers of semi-modern capes while Intermodal also notes that rusty giants remain popular. A total of 10 ships older than 15 years old have been saved from the breakers. The most active bidders for these vintage ships were Chinese. New names have emerged such as Xiamen C&D Shipping, An Li Ocean, and  Gemini Ocean.

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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