AsiaDry Cargo

Prices for Japanese panamax bulkers continue to improve

A ten-year-old Sasebo-built panamax bulker has been bought by Zihni Shipping for a price Clarksons Research lists in the high $7ms. The Shin Yo was owned previously by Chugoku Sougyo, a Japanese owner based in the area of Tsuneishi.

Meanwhile, the Sorrento, an Imabari-built, 12-year-old panamax bulker fetched a price of $6.5m last week, though no buyer has been revealed.

“Both these pieces of business represent a significant improvement to the low $6ms achieved for Red Queen last week,” Clarksons Research noted in its weekly report issued on Friday evening.

With Japanese bulker tonnage prices increasing, owners are now increasingly looking at Chinese-built bargains.

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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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