H-Line takes another modern cape

H-Line takes another modern cape

Hsin Chien Marine is the second Taiwanese owner in the past fortnight to be offloading relative modern bulkers.

Over the weekend details of a sale that started mid-week by inviting offers is now closed, and numerous sources reveal that Hsin Chien Marine has trimmed its fleet down to 28 bulkers by selling one of its four capes. The New Mighty, a seven year old Hanjin Subic built cape, has been taken up by fast expanding H-Line from South Korea for $27.5m.

H-Line has been active in the cape market, adding a handful of modern capes in the past 18 months.

H-Line Shipping is also looking to float its company on the Korea Exchange later this year.

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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