An adroit Vietnamese dry bulk player has made its first move for the year. Tan Binh, which was one of the most prolific handy bulker buyers in 2015 and 2016, has bought the Japanese-built 28,500 dwt Atlantic Dream for $6.5m. The Vietnamese firm seems to have picked up a bargain, given that a younger similarly sized ship, Indigo Felicity, was sold a week earlier for $7.5m.
The private owner has proven very adept at flipping vessels, making quick asset plays.
Clarkson Research notes in its most recent weekly report: “There has been a strong level of demand from Vietnamese buyers for Imabari 28 design handysizes and offers have been invited on the log-fitted Mardi Gras, which is understood to be trading at similar levels, with both Vietnamese and Greek buyers competing.”