Japan’s Miyazaki Sangyo Kaiun has let go of two-thirds of its cape arm in less than a month.
At the end of July Splash reported that the diverse owner sold the 15-year-old, 203,212 dwt Pacific Oak to China’s fast growing cape player, Seacon Shipping.
Now broker sources tell Splash that its second to last cape has also found a buyer. Splash understands that the ballast water treatment system fitted, 2007-built, 176,000 dwt Lowlands Erica has just been sold for a firm price of just under $15m. Online pricing portal VesselsValue sets the market value for the Namura-built cape at significantly less.
Miyazaki Sangyo has been eager to sell fast. It’s only been a couple of weeks since it invited interested parties to inspect the Lowlands Erica. The sale will leave Miyazaki Sangyo with one last cape, the 176,000 dwt, Namura-built Global Enterprise.