Dry CargoGreater China

Hsin Chien Marine retests the warming cape market

A remarkable change has been witnessed of late in the dry bulk market with demand ramping up significantly.

One owner testing the market is Taiwanese bulker owner, Hsin Chien Marine, who is determined to sell one of its capes at the third attempt.

Last month Splash reported that Hsin Chien’s 2008-built capesize, New Stage, was put up for sale for the second time, with five parties inspecting the ship and one owner bidding $15m. The ship was withdrawn from the market as the owners held firm on their $16m asking price for the 12-year-old Namura-built cape.

Over the weekend broker sources reported the same ship as sold for $16.3m reflecting an increased value of $1.3m in just one month. However, Splash has been informed that this information is premature and the ship is still up for grabs.

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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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