Nisshin and Daiichi Chuo continue dry bulk sell-off

Nisshin and Daiichi Chuo continue dry bulk sell-off

The fire sale of Nisshin Shipping’s dry bulk fleet continues apace. The Japanese firm is reported by brokers as offloading a 15-year-old panamax, the 76,000 dwt Medi Kobe, to Chinese buyers for $2.7m. Nisshin, which is fast rejigging its fleet to focus on tankers, has another 10 bulkers up for sale, having already sold seven ships in the first six weeks of 2016.

Another Japanese outfit also in selling mode is financially troubled Daiichi Chuo Kisen Kaisha, which has a series of Hyundai Mipo-built handysizes on the sales block. An unspecified Vietnamese firm is linked as the buyer of the 37,000 dwt handy, Ocean Kite. The four-year-old ship fetched $8.5m, according to brokers. Daiichi Chuo filed for court protection last year and many of its vessels are now being sold.

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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