AsiaDry Cargo

Mizuho Sangyo puts newcastlemax pair up for sale

Japan’s shy bulker mammoth Mizuho Sangyo is offloading two newcastlemaxes, the 203,000 dwt Azul Challenge and a sister ship, Azul Integra, built in 2004. Newcastlemaxes rarely change hands in shipping. The first vessel is discharging in Fukuyama where it is inspectable. Azul Challenge is inviting offers today, while the second ship is inspectable shortly, also in Japan. The ships are expected to fetch around $18m each.

VesselsValue data on Mizuho Sangyo shows the company has 20 vessels in the cape segment with a fleet average age of just eight years. Earlier this month Mizuho Sangyo sold its first bulker in 2019 to Bangladesh’s SR Shipping, offloading a 13-year-old supramax.

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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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