AsiaDry Cargo

Rare mini-capes up for sale

Dry bulk S&P continues at full speed. The bullish momentum is turning into the norm. Broker sources reveal that India’s Essar Shipping is now close to selling six mini-capes, all 106,000 dwt ships built between 2011 and 2012, the first mini-capes sold in years.

The rare units have been circulated for sale for months.

Plenty of deals in also in the making, with a handful of resales being reported sold or under negations.

One deal illustrating the millions to be made was done recently by China Minsheng Trust, selling four 85,000 dwt post-panamaxes being built at Chengxi Shipyard. The resales will hit the water in November and in three months intervals onwards. The ships were reported sold for $28.5 m each, having been ordered for $28m each in September last year.

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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