AsiaDry Cargo

Hoa Phat Group snaps up its third bulker

Vietnam’s Hoa Phat Group has been active this year, adding one ship after another to add to its booming steel business.

Hoa Phat Group has emerged as the taker of an 80,000 dwt kamsarmax, built in 2017, named  Lena B, from Japan’s Kambara Kisen. The ship has been renamed The Prosperity. The vessel was sold for $35m.

The purchase is part of the group’s development strategy to meet internal transportation needs especially when the second phase of the company’s mill at Dung Quat project is completed.

Hoa Phat Group bought its first two ships this spring, using its shipping arm Hoa Phat Shipping Joint Stock Company, adding the 11-year-old, 88,000 dwt The Evolution for $12.7m and the eight-year-old, 80,000 dwt The Harmony for $16.5m.

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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