Berge Bulk's appetite for secondhand tonnage appears to be unsatisfied after it was linked to another capesize acquisition involving a vessel operated by Japan’s K Line.

US brokers reported the Singapore-based bulker owner has purchased the 177,000-dwt Cape Fushen (built 2008) has been purchased for a firm $14m.

That's within the wide range of market expectations. Separate estimates by VesselsValue and Maritime Strategies International estimates indicate the Shanghai Waigaoqiao Shipyard-built Cape Fushen is worth between $13.1m and $17.2m.

The vessel is owned by Japanese shipowner Fukujin Kisen but operated under the commercial control of K Line.

However, other sources indicate the vessel has been picked up by "Chinese interests".

Berge Bulk and Fukujin Kisen have been contacted for comment.

Berge Bulk has also been mentioned as the possible buyer of the 178,000-dwt Cape Vanguard (built 2008), a vessel which is directly owned by K Line. and was reportedly sold for $14.7m this week.

That bulker has been operating under a a freight contract with Nippon Steel. Brokers reported the vessel has been sold to Far Eastern interests.

Earlier this month Berge Bulk agreed to buy the 203,000-dwt Cape Daisy (built 2006) from Fukujin Kisen for $12.8m. In July, Berge Bulk bought a sister vessel, Cape Rosa (built 2005) for $13.5m. This vessel is now in the Berge Bulk fleet and renamed Berge Dinara.

Berge Bulk has sold four large bulkers for demolition so far this year.

The acquisitions come amid a sell-off of capesize tonnage from Japanese owners. As earlier reported by TradeWinds, string of capesize tonnage built for Japanese owners during a boom in newbuildings between 2005 and 2010 is starting to reach the 15-year mark.

A decline in demand from Japanese steel mills for iron ore is encouraging the Japanese owners to dispose of the vessels. The Mauritius accident involving the 203,000-dwt capesize Wakashio (built 2007), which is in a similar age bracket, is also contributing to the sell-off.

Vessels in of between 10 to 15 years old have often finished their long-term charter commitments to Japanese steel mills and the big three operators — NYK Line, K Line and Mitsui OSK Lines — do not want to run the financial risk of operating the vessels on the spot market.

This story has been amended since publication to reflect that Fukujin Kisen was the seller of the Cape Daisy.