Pavimar doubles down with another asset play

Pavimar doubles down with another asset play

Weeks after being reported as the taker of one the six kamsarmaxes from Toisa’s bank driven fleet sale, Pavimar has done a deal again, this time concluding its second successful asset play in the past six months, selling the Imabari built 76,600 dwt Toro for $15.2m, brokers tell Splash.

The deal is noted in one broker report as the most interesting sale of the week. The bulker was bought by the Athens-based company for a price below $8.5m in September 2016.

At the beginning of the year the company sold a second Imabari-built ship, the 51,000 dwt Queen P, to Greek peer Aims Shipping for $12.5m, having bought it for $10m in March last year.

Pavimar is one of the fastest growing bulker outfits over the last couple of years, having bought eight ships since February 2017.

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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