Rosco fleet up for sale again

Rosco fleet up for sale again

Chinese owner Rewood Ocean Shipping (Rosco) has listed its entire fleet for sale again, having failed to conclude a deal to sell the vessels in May.

John Michael Radziwill was linked by brokers to a $177m fleet deal in February, however in May the vessels were back on the market after the unconfirmed buyer failed to lift subjects.

According to shipbroking reports, Rosco is now inviting best offers for the fleet of 11 bulk carriers either on an individual or en bloc basis.

The 11 vessels are made up of seven panamaxes, three kamsarmaxes and one capesize. All of the vessels are Japanese-built apart from two kamsarmaxes, which were built at Tsuneishi’s yard in Zhoushan, China. The age of the vessels range from seven years to 16 years.

Hebei-based Rewood Ocean Shipping is a subsidiary of Chinese private grain trader Hopefull Grain and Oil Group. The company has been struggling and closed its Shanghai office in 2016.

Jason Jiang

Jason worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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