AsiaDry Cargo

Handy specialist Tan Binh in for another

Brokers link Tan Binh Shipping to the purchase of the 13-year-old, 29,887 dwt Eco Vanquish for $5.6m, a price that appears high as gives the ship a market value of $4.51m.
Tan Binh, which lists close to 15 ships on its site, is one of many active Vietnamese buyers taking on a steady stream of elderly ships this year. It is only some months back since the company snapped up the similar sized, Eco Vanguard from the same Malaysian owner. This ship was renamed Tan Binh 135 and flagged domestically.

The company did not respond when contacted by Splash.

This is the fifth elderly handy it is listed buying this year; in addition, the company has bought one small multipurpose vessel.

Tan Binh was established in 1998 in Haiphong and became one of the first private Vietnamese lines to operate internationally.

The seller – family-owned Austbulk – handles its shipowning through subsidiary company Ecoship. It is left with just three ships.


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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