JP Morgan acquires panamax bulker from United Ocean

JP Morgan acquires panamax bulker from United Ocean

JP Morgan Global Maritime continues its secondhand bulker buying spree, acquiring 82,000dwt bulker United World from United Ocean Group.

According to broking sources, JP Morgan paid United Ocean $21.5m for the 2013-built vessel as the Japanese owner continues its fleet sell off after filing for bankruptcy protection last January.

JP Morgan snapped up two capsize bulkers, Hanjin Newcastle and Hanjin Port Walcott, last month from bankrupt Hanjin Shipping.

In June, JP Morgan secured $480m for its Global Maritime Investment Fund 2 and intends to use the funds to invest in more modern vessels.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.

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