AsiaDry Cargo

Miyazaki Sangyo sells another cape

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.

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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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