AsiaDry Cargo

Tan Binh back in buying mode

Vietnamese bulker player Tan Binh is back after an 18-month hiatus from its last buying binge. The handysize specialist was one of the most active buyers throughout 2016. It remained quiet in 2017, but now brokers can reveal a string of purchases it has made quietly this year.

In March it bought the 19-year-old, 23,500 dwt Luxury SW from Taiwan’s Shih Wei Navigation. This purchase was followed by an $8.2m deal adding the 32,000 dwt Conqueror, its first ship less than ten years of age. This is a rare, unreported deal, where it quietly added an eight-year-old Chinese-built bulker from another Taiwanese owner, Way East Shipping Agency. In a third and still to be confirmed deal, Tan Binh is listed by brokers as the buyer of the 14-year-old bulker Clipper Lasco from Denmark’s Clipper Group for $6m.

Tan Binh added seven ships in 2015 and 2016 and made one headline in 2017 as a seller, with a successful asset play.

Data from VesselsValue shows Tan Binh with a 16-strong fleet list with an average age of 16 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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