Capesize Dominates with S&P deals

Investors in the cape market showed significant interest last week prior to the start of the Chinese New Year festivities.

More than 10 cape-sized vessels have reportedly changed hands this month. For instance, New York-based Foremost sold two non-scrubber fitted sisters, the Yue May and Guo May, both built by Shanghai Waigaoqiao Shipbuilding. Following this, container specialist Danaos has been linked to Guo May, with a third sister ship, Zhong May, also included in the sale, with Peter Doehle reportedly involved.

Additionally, aside from the three non-scrubber fitted capes, the company has garnered approximately $73 million from the sale of two 206,000 dwt newcastlemax vessels from the same shipyard, Lan May and Qing, with Winning linked to the purchase.

In another transaction, Korean cape player Polaris reportedly sold four Newcastlemax vessels built in China between 2020 and 2021, with the buyer yet to be disclosed.

The month began with Greek dry bulk giant Star Bulk Carriers selling its 17-year-old capesize vessel, the Big Bang, also built by Shanghai Waigaoqiao Shipbuilding. Pacific Bulk Carriers has been associated with this deal. Additionally, Jinhui Shipping and Transportation expanded its fleet with a capesize purchase from Taiwan’s Hsin Chien Marine, acquiring the 2012 Imabari-built New Delight for $30.95 million.