Dry CargoGreater China

HighRich handymax auction set for August 20

Brokers tell Splash that they are getting ready to represent their principles for the upcoming auction in Singapore for the sale of the 37,300 dwt handymax Long Bright. The bids are due by August 20.

Long Bright has fair market value of $12.9m according to MSI, however one broker contacted by Splash reckons the ship will only manage to raise around $11m.

HighRich’s fleet has been cut back in recent years. Three ships have been sold since 2016, including another at auction.

After this latest auction in five days’ time the Chinese owner will be left with two handymaxes plus one newbuilding.

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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