Times Navigation linked to Chinese kamsarmax trio

Times Navigation linked to Chinese kamsarmax trio

Brokers are reporting the sale of three kamsarmaxes, owned by China’s Zhejiang Materials Industry (ZMI), sold en bloc at around the mid-$18m mark per vessel.

Yangfang-built Ocean Libra (built 2013)Ocean Scorpio (built 2013) and Ocean Virgo (built 2012) are the only vessels owned by ZMI and the sale marks an exit from shipowning.

The buyer has yet to be confirmed although market chatter is that Greek owner Times Navigation, led by John Karageorgis, is the buyer.

ZMI specialises in the iron ore and steel products trade and is part of Wuchan Zhongda Group. 

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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