Dry Cargo

Seven capes change hands in opening days of 2021

Cape sales continue to dominate the opening days of 2021. While cape freight rates have cooled slightly this week, they are still in profitable territory, something that was not the case for much of last year.

So far this year, seven cape sales have been registered, a brisk start to 2021. By comparison, 49 capes were sold throughout the whole of 2020.

On the modern side, Libya’s GNMTC is noted by multiple reports selling the Korean-built 169,100 dwt Jabal Nafusa. Greek heavyweight, Andreas Martinos’s Minerva Marine is linked to this deal. If confirmed, this would be Minerva Marine’s first dry purchase in years.

Last year, cash rich Greeks dominated bids offered for capes less than 15 years of age.

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.
Back to top button