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Iino Kaiun offloads panamax bulker for $9.4m

The Japanese have been the most active owners this year in terms of selling off dry bulk tonnage amid the dire freight rate market environment.

Iino Kaiun Kaisha becomes the latest to join the selling frenzy. It has pocketed $9.4m from selling the eight,year-old Atlas Island panamax. The 76,554 dwt Imabari-built vessel was taken by Monaco-based Transocean Maritime Agencies, according to brokers.

Japanese tonnage has been in high demand among dry bulk owners seeking bargains this year, with any ship coming on the market generally getting double digit numbers of inspections.

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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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