Zhangjiagang Oceanicwit Expands Fleet with Acquisitions

Zhangjiagang Oceanicwit Shipping continues its buying spree, showing no signs of slowing down.

In the past few weeks, the Chinese bulker operator, which already has a fleet of over 20 vessels, has added two more aging capesize ships from major Greek sellers.

Splash can confirm that at the end of August, the company purchased the 18-year-old Maran Prosperity from Maran Dry for $21.5 million, renaming it Leone Future. This is their second acquisition of a capesize vessel built by Shanghai Waigaoqiao Shipbuilding since May.

In addition, Splash has learned that Oceanicwit closed another deal last week with Star Bulk Carriers, led by Petros Pappas. The latest purchase is the Star Triumph, a 176,300 dwt vessel equipped with a scrubber and built in 2004, for $20 million.

Oceanicwit’s bold buying strategy this year has expanded its capesize fleet to six vintage vessels.