Dry CargoGreater China

Noble trims its cape arm

Shortly after Noble confirmed the sale of a 2012-built post-panamax, the commodity trading firm has found a buyer for another ship as its fleet clear-out continues. A Chinese leasing company is thought to have bought the 2011-built Aqua Vision capesize for $20m, leaving Noble with just two capes left, the Aqua Honour and Aqua Splendor.

Latest prices suggest 10-year-old capes have dropped in price by 4.3% in the last month on the back of one of the worst runs in the sector, with the Baltic Capesize Index in unprecedented negative territory.

Data from VesselsValue shows that Noble has sold 12 ships in the last couple of years, aiming at an overall asset-light shipping policy following an extensive restructuring.

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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