Spring Marine grows panamax bulker fleet to four

Spring Marine grows panamax bulker fleet to four

Greek owner Spring Marine has added a panamax bulker to its fleet, according to brokers, growing its fleet of Japanese panamaxes to four.

Both Seasure Shipbroking and Advanced Shipping & Trading report that the company has acquired 2006-built Tadotsu Tsuneishi panamax Red Lotus from Santoku Senpaku. Seasure puts the sale price at $12.3m, while Advanced reports the sale around the mid-high $12m mark.

The sale price is significantly higher then the VesselsValue market value of $11.32m, explained by the vessel having just completed a dry docking and had a ballast water treatment system installed.

Spring Marine was founded in 2008, and as well as its dry bulk fleet the company owns a fleet of nine tankers.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.

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