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HTM Shipping sells second ultramax to Eagle Bulk

Pure breed bulker player Eagle Bulk Shipping broke cover earlier this week, adding its first ship this year, winning the bidding for the four-year old 63,300 dwt Bao Tong ultramax for $21.3m from its close Chinese friend HTM Shipping, a unit of steel trader Baoyuan International.

The ultramax is Eagle Bulk’s second Chengxi-built ship purchase from HTM Shipping in the past couple of years. It added the 63,500 dwt Bao Fortune in 2016.

HTM Shipping, like Eagle Bulk, has also stayed quiet this year, with no sales or purchases until now. It did however place an order at Nantong Xiangyu Shipbuilding and Offshore for one supramax with delivery in 2020 at the start of the year. The Chinese outfit is listed with nine modern ships while Eagle Bulk is listed with a fleet of 47 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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