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Miyazaki Sangyo Kaiun sells newcastlemax to Seacon

Japan’s Miyazaki Sangyo Kaiun has let go of one third of its cape arm, pocketing $14.9 m on the sale of the 15-year-old, 203,212 dwt Pacific Oak.

Broking sources say China’s fast growing cape player, Seacon Shipping, has sealed its second cape deal since May, bringing its cape arm up to three ships.

Miyazaki Sangyo fetched a firm price for the newcastlemax. Just three weeks ago James Marshall-led Berge Bulk reportedly paid $1.3 million less for a similar aged sister ship.

Miyazaki Sangyo will continue to make headlines in the weeks to come. Its next ship on the sales block is the 2007-built, 176,000-dwt Lowlands Erica. This ship is inspectable today in Vietnam.

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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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