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Hanjin-linked vessel sales continue apace

JP Morgan has bought Hanjin capesize N Fos that had earlier been linked to Greece’s Chartworld.

Creditor KEB Hana Bank was believed to have come close to selling the 179,147 dwt ship for $21.8m to busy Chartworld, but the deal failed to go through. In the end the American bank JP Morgan snapped up the seven-year-old bulker for a cheaper price at just $20.5m.

The ongoing sale of Hanjin assets continues and is finally bringing some solace to stranded crews around the world. The 5,752 teu Hanjin Vienna, owned by Germany’s Reederei NSB, has been sold at auction and will be scrapped. The 17-year-old ship fetched a demo price of $280 per ldt. The ship and its crew had been in limbo since its charterer Hanjin Shipping filed for court protection at the end of last August.

Further bids on another eight ships belonging to Hanjin are due in tomorrow.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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