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Moundreas acquires capesize bulker from Sincere Navigation

Taiwanese bulker operator Sincere Navigation has announced that the company has sold its 2003-built 172,400 dwt capesize bulker Mineral Antwerpen to Greek owner Nicholas G. Moundreas Shipping.

The DSME-built ship was sold for a price of $10m, substantially higher than VesselsValue’s valuation of $7.9m.

Sincere Navigation said the company will register a loss of $1.25m from the sale. 

The vessel will be delivered to the new owner this month, and following the disposal Sincere Navigation’s fleet will have eight bulkers.

VesselsValue data shows Nicholas Moundreas recently also acquired another capesize bulker, the 2011-built Pacific Endurance, from Japanese owner Keishin Kaiun.

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Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
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