US investment bank JP Morgan is reported to have bought two secondhand ships from the fleet of Swire Bulk.
Some broking sources said the 40,000-dwt Liangchow and Lintan (both built 2015) had been snapped up for the account of Global Meridian Holdings, which is linked to JP Morgan.
The price was put at $20.5m for each of the ships.
However, VesselsValue said the ships were acquired by JP Morgan Global Maritime, its only solely-owned vessels.
The valuation platform lists this company as owning Car Carrier investments, which controls Norwegian car carrier owner NOCC, and Bulk Trading Group, a 50/50 tie-up with Norway’s Jebsen Skipsrederi.
BTG has four modern panamax bulkers. JP Morgan declined to comment when contacted by TradeWinds.
Global Meridian bought seven handymax and panamax bulkers last year, including six from Swire Bulk.
The last three were acquired in December for about $60m: the 39,800-dwt Foochow, Funing and Fengning (all built 2015).
Global Meridian has a mixed fleet of 86 vessels, including tankers, boxships and LNG and LPG carriers.
TradeWinds reported the Liangchow and Lintan sales earlier in March.
Holding value
The bulkers have held their value well since they were contracted in China.
They cost Swire Bulk $23m each as newbuildings in 2013.
The units were worth only about $17m five years ago. Swire Bulk has not commented.
TradeWinds reported this month that interests associated with JP Morgan were being linked to three high-priced LNG carrier newbuilding resales that were said to have been snapped up by US producer Venture Global LNG for more than $800m in total.
Brokers in the sector said JP Morgan has sold three of its on-order LNG carriers for about $270m each.
The vessels are understood to be due for delivery dates before the end of 2026.
