Dry CargoGreater China

Royal Marine readies to discharge post-panamax fleet

Low profile Chinese owner Royal Marine Holdings is selling its post-panamaxes.

Despite falling prices and Covid-19 , Royal Marine is determined to sell and focus on its woodchip carrier fleet.

Sources say the two 88,300 dwt Imbari built vessels, 2004-built Royal Forward and 2007- built Royal Award, are for sale.The most modern of the two was bought for $6.8m at the beginning of 2016 while the three-year older sister ship was bought for $600,000 less according to data from VesselsValue.The ships are now valued at $9.06m and $6.96m in the VesselsValue database. A third ship was also put up up for sale this week, Royal Marine’s most modern panamax, the CSSC-built 82,000 dwt Venus.

After the upcoming sale, the outfit will be left with a handful of modern woodchip carriers.

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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