Singapore-based Chinese cape specialist Winning International Group has sealed its third ship deal this year.
The Sun Xiushun-led player has emerged as the highest bidder for the 16-year-old Japanese-controlled capesize, named Atlantic Tiger, a 180,000 dwt, Imabari-built vessel. The ship fetched $16.5m.
Winning now has 40 capes in its fleet, largely involved in the West Africa – China tradelane.
During the ebola epidemic of 2014, Winning sailed against the currents and ventured into Guinea in West Africa, where it initiated bauxite projects, constructed ports, and set up maritime logistics channels becoming the most active capesize player in the region by setting up the SMB-Winning Consortium. This propelled Guinea to become the world’s largest bauxite exporter and China’s largest bauxite supplier. In 2019 it also initiated the construction of the first modern railway in Guinea in nearly half a century.
