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.