Dry CargoGreater China

Sincere Navigation exits supramax sector

Taipei-listed tanker and bulker player Sincere Navigation has sold its last supramax.

In March, it sold the 12-year-old supramax, Georgiana, for $9.9m to Xiamen ITG. Now, multiple brokers report that Sincere is selling a one-year-old sister ship, Madonna III, for significantly more, fetching $11.6m. No taker has been attached to the ongoing deal.

Sincere’s bulk fleet is left with nine capes and two kamsarmaxes with an average age of 12 years.

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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