Nisshin puts kamsarmaxes up for sale as newbuilds start to flood in

Nisshin puts kamsarmaxes up for sale as newbuilds start to flood in

Japan’s Nisshin Shipping is looking to offload three modern kamsarmaxes from its fleet as it makes way for an influx of newbuild vessels.

Having sold four vessels last year, including two kamsarmaxes to Hong Kong’s Caravel Group, Nisshin is now offering up three kamsarmaxes for sale. Brokers are circulating the Tsuneishi Zhoushan-built Falcon Trader (2016) and Oshima-built pair Trustn Trader I and Trustn Trader II (both 2015).

Nisshin paid $22m for the Falcon Trader, buying it as a resale in 2016, and it is now valued at $25.85m according to VesselsValue. The Trustn Trader I and Trustn Trader II are both worth around $23.5m.

Nisshin has a huge orderbook set to deliver, with VesselsValue showing 46 vessels currently on order of which nine are kamsarmaxes at Jiangsu Hantong. All of the kamrsarmaxes are set to deliver within the next 12 months. The company also has 28 ultramaxes on order in China.

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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