Chinese bulker player makes $10m on cape sale – Splash247

A ship in Chinese bulker player Ningbo Zrich Shipping’s leet is reported sold for $10m more than the purchase price a little more than a year ago.

The New Times-built Springbank was one of two ten-year-old 177,000 dwt capes added in an en bloc deal in March 2020 from German interests. Back then Beijing-based Minsheng Finance Leasing(MFS) bought two modern capes and bareboat chartered them back to Ningbo Zrich Shipping.

Shipbroker Advanced Shipping and Trading links Greek owner Kassian Maritime to the latest deal. Ningbo Zrich Shipping, which has three capes, has close ties to Kassian. This year, the Pappadakis family outfit sold the 14-year-old 174,000 dwt Giant Slotta for $12m. This ship is now with Zrich and renamed Highland Park.

In addition to the above capes, Ningbo Zrich’s bulker fleet counts another 10 young supramaxes and one handymax, ships that Minsheng has slipped into the Zrich fleet.

This article has been posted as is from Source

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