Celsius Shipping has disposed of a five-year-old, Chinese-built ultramax at a profit as it continues to play an active role in the sale-and-purchase market.
US brokers reported the highly diversified Danish shipowner has sold the 63,400-dwt GH Seabiscuit (built 2016) to an undisclosed buyer for $17.6m.
VesselsValue estimates the ship is worth $18.26m, but the Jiangsu Hantong-built bulker still appears to have fetched a good price for Celsius because it is due for special survey in May.
The Copenhagen company bought the GH Seabiscuit in a resale deal in May 2016, paying just $16m to buy the newbuilding from HTM Shipping.
Celsius chairman Jeppe Jensen confirmed the vessel has been sold, but he declined to comment further.
In November, Celsius sold three Chinese-built ultramaxes to Oman Shipping. The 63,300-dwt GH Citation and GH Black Caviar (both built 2016) fetched $17m each. The owner had bought them as newbuildings, paying $17.5m each in a resale transaction.
VesselsValue shows that the company also sold the 63,400-dwt GH Rich Wall (built 2017) to Oman Shipping, but details of that transaction are not clear.
Founded in 2012, Celsius has a fleet of more than 50 ships, including bulkers, tankers and containerships. The company is backed by Bayside Capital and Breakwater Capital.
The outfit is often focused on asset plays, but last year took delivery of four LNG newbuilding carriers from Samsung Heavy Industries that are locked into long-term employment.
Jensen has said that Celsius intends to expand its LNG carrier fleet.
