Eyal Ofer’s Zodiac Maritime is understood to have made its first purchase of the year, paying Nissen Kaiun $25m for the seven-year-old scrubber-fitted 181,415 dwt Jubilant Excellence capesize.
The Japanese-built bulker will join another 23 capes in the Zodiac fleet, which numbers over 160 ships in total.
Zodiac’s purchasing department has taken a time out in 2020 with the company preoccupied with selling some of its vintage tankers.
Japan’s Nissen Kaiun, meanwhile, has a sizeable tranche of its fleet it is keen to offload before the end of the year.