JP Morgan linked to fourth cape

JP Morgan linked to fourth cape

JP Morgan, one of many new big names jumping on the heated bulker bandwagon, has been linked to its fourth cape buy in the space of just six months.

Brokers note that it has added the five-year old Romanian built CPO Asia that was recently put up for sale by Germany’s Claus-Peter Offen, an outfit who has been busy selling ships lately.

The news comes only week after it was said to have taken the one year older Pacific Capella from Singapore’s Pacific International Lines.

JP Morgan Global Maritime is active in the market with different funds investing in different tonnage sectors. In November it added its first cape for some $22m this ship is now likely worth more than $30m. Last month it took on an ex-Hanjin cape.

Last week Splash reported JP Morgan had taken five ultramaxes for $85.8m.

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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