Dry CargoGreater China

Oriental Ocean sells off most of its fleet

Chinese owner Oriental Ocean Shipping Holding (OOSCO) has sold of a trio of modern Chinese-built post-panamax bulkers. Brokers tell Splash that the 92,000-dwt Welfine and its sister ship the Welprofit (both built 2011) are going to an undisclosed Greek buyer for $17m each while the taker of the one year older Wellsucess has been identified as sold to Korea Shipping for a price in the low $15m region. All ships were built at New Yangzijiang Shipbuilding.

This is the second time in a couple of years the ships have been been reported as sold. The first time was in the summer of 2015 when the ships fetched some $6m less, however the sale fell through.

OOSCO is listed with five sisterships delivered from Jiangsu New Yangzijiang between 2010 and 2011. The three sales are listed as on long subjects.

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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