Owners turn to Chinese bulker tonnage

Owners turn to Chinese bulker tonnage

With values increasing for Japanese and Korean built supramaxes, European-based buyers have begun to shift their focus onto Chinese built supramax bulker tonnage which is being traded on the S&P markets at a significant discount, Clarksons Research notes in its latest weekly report.

The Dolphin 57 design Flag Mersinidi was inspected by up to 15 buyers at the beginning of this month. The ship, built four years ago for Greece’s Golden Union at Cosco Guangdong, has since been sold to Tomini Shipping for $8.5m.

Many owners have indicated to Splash in recent weeks that Chinese bulker tonnage is now becoming competitive as Japanese tonnage in particular begins to get priced out of the market.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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