AsiaDry Cargo

Tan Binh makes $1.55m profit from latest asset play

One of Southeast Asia’s most adroit dry bulk asset players has made another tidy profit on a ship sale.

Tan Binh, a private Vietnamese owner, has sold the 10-year-old 28,733 dwt Tan Binh 139 to Tokyo Cement for $7.85m. Tan Binh had bought the ship in December 2015 for $6.3m.

In the last two years Tan Binh has targeted Japanese built handies, with many flipped for quick profits as prices for this ship type have picked up noticeably since 2015.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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