South Korean dry bulk owner Joong Ang Shipping appears to be heading for an exit of the panamax sector.
Brokers are circulating the company’s only two panamaxes, the 2011-built Daewoo pair Sunny Young and Wise Young. Joong Ang is said to be inviting offers for the pair, which are valued around the $8.5m-$8.7m mark according to VesselsValue.
Should a buyer step forward, Joong Ang will be left with a fleet of three Hyundai Vinashin-built ultramaxes.
Name of one of the ships is Wise Young and not Sunny Wise…
Best greetigns,
Anders Liljegren
Sweden