Maybulk continues bulker sell off

Maybulk continues bulker sell off

Malaysian Bulk Carriers (Maybulk) has put two bulk carriers for sale, Malaysian local media The Edge has reported.

According to industry sources, Maybulk is now in talks to sell 87,000dwt Alam Padu and 53,000dwt Alam Muni, hot on the heels of the reported sale of 87,000dwt bulker Alam Pesona for $6.8m to Greek shipowner Navitas Compania Maritima.

In March, Maybulk suffered its first ever annual loss, reporting a loss of MYR1.18bn ($282.14m) for the year of 2015.

“2016 is expected to be yet another challenging year for dry bulk shipping. Looking forward, China’s seaborne coal imports are expected to decline further in 2016. The increase in demolition activity, reduced dry bulk deliveries and increasing lay-ups should help to reduce tonnage overcapacity,” the company said.

Maybulk currently has a fleet of 24 vessels, made up of 21 bulk carriers and three tankers.

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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