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NGM Energy seals fourth cape deal of the year

Broking sources tell Splash that Nicholas George Moundreas’s NGM Energy now tops the charts as the most active private buyer of capes this year.

NGM Energy’s latest addition involves the 10-year-old, 176,000 dwt DS Charme, a ship sold by German interests. Allied Shipbroking notes that the ship is reported sold for some $28m, including a time charter attached index inked at 89% of the capesize 5TC average index.

It’s only a week since NGM made its last purchase. Then the Greek outfit added the nine-year-old, 181,000 dwt Frontier Phoenix from Japanese interests. Its first deal this summer was the 180,000 dwt Lowlands Tenacity for just under $30m. NGM Energy has so far added four capes in 2021. Its first purchase was in January, snapping up a sister ship of the DS Charme for $18.5m, a ship that is now worth around $30m according to VesselsValue.

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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