Hong Kong-based Parakou Group’s fleet sale is gathering pace, taking advantage of the accelerating prices in dry cargo.
S&P brokers note that the shy owner has let go of its eight-year-old ultramax, CP Shanghai, for $23.5m, some $500,000 more than pricing portal VesselsValue indicates the 63,500 dwt bulker is worth.
Brokers also note that affiliate, Pretty Sea Ship Management, has also sold its second handysize unit within weeks, selling the 2011-built, 35,000 dwt Red Sea for a little over $11m, while the sister ship Purple Sea sold for less than $11m in September.
Parakou Group prefers to order its ships and has, in the last 30 years, ordered over 100 ships at shipyards in Japan, South Korea, Taiwan and China.
