Dry CargoEurope

Navigare takes BW bulker for $25m

Danish investment fund Navigare Capital Partners continues to pour money into the shipping market.

Six months after it snapped up its first ultramax for $18.6m the active outfit is linked to its second bulker buy.

This time brokers say it has reached out to BW Dry Cargo, paying significantly more for the 61,000 dwt BW Durum.

BW appears to be booking a healthy capital gain with the sale of the vessel with brokers suggesting it secured $25m from Navigare, a tidypremium on the $18.3m it paid for the ship in August 2016.

Navigare has so far spent more than $300m on modern ships in various sectors, bringing its fleet list up to eight ships since April last year.

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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