Greek bulker owner Golden Union is maintaining its exposure to the large bulker market.

UK-based brokers linked the company to the purchase of a 12-year-old capesize, just a few weeks after the Theodore Veniamis-led outfit sold for demolition a similar-sized ship that had been its oldest vessel.

Golden Union has reportedly committed to purchase the 180,000-dwt Mineral Hokkaido (built 2008). Some brokers said the Imabari Shipbuilding-constructed ship has been purchased for some $16.2m, while others are citing much higher prices of as much as $17m. Vessels from top class shipyards tend to achieve a firm price, even in a poor market.

The Mineral Hokkaido is the only capesize in the fleet of STC Shipping of Singapore, which controls the vessel. TradeWinds could not obtain an immediate comment from Golden Union.

Dry bulk deals have been relatively rare in the secondhand market lately, particularly for capesizes. Weak buying interest amid sluggish freight rate markets and the coronavirus outbreak are only part of the story.

Market sources in Piraeus also said that prospective sellers, mostly Japanese, have withdrawn several ships from the market in reaction to what they consider to be excessively low price ideas by potential buyers.

Golden Union has been keen to expand for quite some time. In October, it bought the 76,600-dwt panamax KM Imabari (built 2009). A month later it was rumoured to be buying two post-panamaxes of the Noble Group in deals that, however, failed to materialise.

In the meantime, Veniamis has been clearing out older tonnage. Last month, he sold for demolition the 172,000-dwt capesize Crassier (built 2000) for $406 per ldt, or $8.5m, in India.

Other possible scrap candidates from the Golden Union capesize fleet are the 171,000-dwt Captain Veniamis (built 2001) and the sistership CIC Pride (built 2002).

Golden Union has a fleet of about 45 bulkers, 20 of which are capesizes. Its largest ships have an average age of 10 years.

Harry Papachristou contributed to this article.