Chinese state-run shipping firm Shandong Shipping has acquired the 2008-built 207,900 dwt newcastlemax Shin Ei according to brokers.
Both Seasure Shipbroking and Advanced Shipping and Trading report that Shandong Shipping bought the Japanese-built vessel from Japanese owner NS United Kaiun for a price of $18.9m. VesselsValue’s valuation on the vessel is $18.8m.
Shandong Shipping currently owns a fleet of 18 vessels, made up of 13 bulkers, three tankers, one boxship and one LNG carrier. It also has four panamax bulkers and eight MR2 tankers on order.
Newcastlemaxes over the age of 10 have been changing hands a great deal in recent months, led by Japanese offloading their older tonnage.