Dry CargoGreater China

Seacon Shipping behind NS United capesize acquisition

Chinese owner Seacon Shipping continues to expand its large bulker fleet, having sealed its third capesize acquisition this year.

Shipbroking sources reported last week that the 2008-built 207,900 dwt capesize bulker Shin Ei was sold by Japanese owner NS United for a price of $18.9m, lower than VesselsValue‘s valuation of $21.8m.

Early market talk linked the acquisition to Shandong Shipping, but Splash can reveal that the buyer is actually Shandong-based Seacon Shipping.

Seacon Shipping acquired another two capesize bulkers earlier in the year, taking the Aquajoy in February and Pacific Oak in July.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
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