ZPMC keeps up search for semi-sub conversion candidates

ZPMC keeps up search for semi-sub conversion candidates

Brokers tell Splash that Zhenhua Shipping, the line owned by Shanghai equipment manufacturer ZPMC, has added the 106,500 dwt Petrozavodsk for $10.4m from Russian owner Sovcomflot. The fair market value of the ship is $11.4m according to MSI.

The ship fetched a similar price to the only other purchase by the Chinese owner this year. In the middle of April Zhenhua Shipping added 105,000 dwt Zirku for $400,000 less.

ZPMC took a break from the secondhand market in 2017 with no sales registered.

This latest aframax purchase will likely be converted into a semi-submersible like other aframax acquisitions made by Zhenhua Shipping.

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.

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