AsiaDry Cargo

Vietnam’s ITC seals $7m profit from sale of bulker pair

One of Vietnam’s fastest growing owners, International Transportation and Trading Joint Stock Company (ITC Corp), is behind this week’s finest asset play, bagging a 63% price increase on a pair of bulkers it bought last year.

The 10-ship strong bulker player is reported by brokers to be in the process of selling the 34,000 dwt Pacific 05 and Pacific 06 for $18m. The ships were built in 2009 and 2010 respectively.

Last summer Empire Bulkers sold the Samjin-built pair to ITC for $11m.

VesselsValue data shows that ICT was particularly busy in 2020, adding two supras and the duo that’s now reported sold.

According to its site, ITC’s key businesses include shipowning, agency, and brokerage. It also has a fleet of trucks and is behind a container terminal venture in Saigon known as SP-ITC.

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.
Back to top button