AsiaDry Cargo

MSPL puts entire fleet of bulkers up for sale

Indian iron ore miner MSPL, part of the Baldota Group, has put its entire fleet of bulkers up for sale.

MSPL, via Singapore-based shipping arm MSPL Diamond, currently has four post-panamax Taizhou Sanfu-built sister vessels making up its fleet. In October 2018, Splash reported that Indus Fortune and Indus Prosperity were circulated by brokers to develop a sale but there have been no takers so far.

Brokers are now circulating the two vessels along with two more post-panamaxes, Indus Triumph and Indus Victory. MSPL are said to be committed sellers, and en bloc offers are being encouraged.

No price has been placed on the sale, however MSI puts the fair market value of both the 2011-built Indus Fortune and Indus Prosperity at $17.6m, 2012-built Indus Triumph at $19m and 2013-built Indus Victory at $20.4m.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.
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