Dry CargoGreater China

Solebay becomes shipowner with cape purchase

A steady stream of Chinese operators has turned to shipowning in the last couple of years. This week Beijing-based operator Solebay has emerged as a shipowner, after sealing the highest bid on a ship sold by Greathorse International Ship Management via auction at the end of March.

Solebay has added the 2011-built cape Tiger Liaoning, now Cape Spring, for $21 m. VesselsValue estimates that the market value for the Qingdao Beihai-built ship would be around $4m more today.

Solebay has also recently fixed the 2005-built capesize Aliki on a one-year time charter from Diana Shipping.

Solebay was founded in 1998 and specialises in dry bulk chartering. Its site says it is working closely with several steel mills and commodity trades, including Minmetals Corporation, COFCO, CITIC, and Marubeni.

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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