AsiaDry Cargo

Tan Binh snaps up handysize bulker from Ulises

Tan Binh continues to snap up Japanese-built handysize bulkers, with brokers naming it as the buyer of 2004-built Shin Kochi handysize bulker Estia.

Allied Shipbrokers say the Vietnamese company has paid $5.9m for the vessel, acquired from Ulises of Greece. The price is lower than the VesselsValue indicated value of $6.77m and MSI valuation of $6.2m.

Tan Binh added four handysize bulkers last year, three of which were built by Japanese shipbuilders, and the Estia will be its first acquisition of 2019.

The sale leaves Ulises with just one bulker left in its fleet, the 2005-built open hatch vessel Gea.

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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