JP Morgan grabs five ultramaxes en bloc from Setaf Saget

JP Morgan grabs five ultramaxes en bloc from Setaf Saget

JP Morgan Global Maritime has taken over five ultramax bulk carriers from French dry bulk shipping operator Setaf Saget.

According to data from Vesselsvalue, the five vessels, JS Columbia, JS Danube, JS Colorado, JS Amazon, JS Sanaga, all built by China’s Dayang Shipbuilding, were sold en bloc to JP Morgan Global Maritime for $85.8m in total.

JP Morgan Global Maritime has been active in the second hand bulker market lately. It has acquired two supramax bulkers, two capesize bulkers and five ultramax bulkers since January.

Jason Jiang

Jason worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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