AsiaDry Cargo

Meghna’s latest supramax buy clearly illustrates rising bulker prices

Clarkson Research has clearly illustrated how secondhand bulker prices have risen in the past 12 months.

Aggressive Bangladeshi owner Meghna Shipping have been revealed by the London research outfit as the buyers of the Santa Phoenix supramax. The 2006-built vessel was inspected by over ten buyers with Japanese owner Sanzo Enterprise managing to net $12m from Meghna last week.

Clarkson Research pointed out that 12 months ago Meghna took another Sanzo supramax, Fleet Phoenix, also built at Mitsui Shipbuilding in 2006, for just $8.8m.

Meghna Shipping is part of Meghna Group, a diverse conglomerate with other interests in commodities, food, aviation and real estate. In the current dry bulk cycle a number of Bangladesh owners have come to the fore, proving adept also at clever asset plays.

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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