AsiaDry Cargo

Larger bulkers in vogue at Eastern Pacific after latest capesize purchase

Idan Ofer’s Singapore-based Eastern Pacific Shipping (EPS) has acquired Japanese-built (2010) capesize bulker Graceful Madonna.

Seasure Shipbroking is reporting that EPS has paid $20m to Japan’s Doun Kisen for the vessel, which has its special survey passed and BWTS fitted. The price is slightly more than the $19.4m market value quoted by VesselsValue.

EPS currently has 14 capesizes in its fleet, with a further two under construction with delivery expected in 2022. It also owns a pair of VLOCs, two panamaxes, and a handful of ultramaxes and handysizes which it has been in the process of offloading for some time as part of efforts to focus on the larger bulk segments.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.
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