Dry CargoEurope

Load Line Marine nails another asset play

Load Line Marine has lined up its second asset play in six months, sealing a solid deal in a challenging market.

Broking sources report that the Greek handysize expert is selling an 11-year-old handysize, the 33,000 dwt Penelope T, a Korean-built ship, for some $14m. One brokering report notes that the deal comes with a charter running until the first quarter of next year attached. George Souravlas-led Load Line added the ship for just under $9m in June 2021.

Six months ago, the 10-ship strong, pure breed bulker player flipped another handysize vessel, selling the 2013-built Eleftherios T for some $20m, a vessel it had originally bought for $15m.

This week broking reports are filled up with handysize and supramax sales candidates. Brokers report that the market is flooded with a surplus of semi-modern handysize and supramax bulkers ships being sent and resent. The longer they stay out there, the cheaper they will get, brokers advise.

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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