Dry CargoGreater China

Shandong Shipping acquires Japanese newcastlemax

Photo of Jason Jiang Jason JiangOctober 19, 2020
1,555 Less than a minute

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.

Photo of Jason Jiang Jason JiangOctober 19, 2020
1,555 Less than a minute
Photo of Jason Jiang

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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