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JP Morgan back in cape buying mode

JP Morgan Global Maritime, one of the most active shipping funds in 2017, has made its first appearance in the cape sector this year as a buyer.

Sources are linking the fund to the Japanese-built Red Cherry with a $45m price tag reported, in a deal that also comes with the final nine months of a charter at $18,000 per day to Malta-based CBC Holdings. The ship is a sister ship to the 193,000 dwt True Chariot, which JP Morgan acquired last year from Swiss Marine. In total JP Morgan bagged a total of seven capes in 2017.

In recent weeks, JP Morgan has also been linked selling five modern capesizes to John Michael Radziwill’s GoodBulk, a deal that is still listed on subjects in VesselsValue’s sales register.

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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