Singapore-based Berge Bulk is renewing its capesize fleet.
Brokers in Europe said the James Marshall-led company has bought the 176,000-dwt Bulk Success (built 2014) for just $24m from Shanghai HNA Marine.
Berge Bulk director Rachel Wong said: “We don’t comment on any market or fleet specifics.
The deal for the Jinhai Heavy Industries-built vessel appears to show that the firmer capesize freight market is not yet lifting asset values.
Dip in values
VesselsValue data shows that the estimated value of a ship of the Bulk Success' characteristics has dipped to $28m from $29.6m.
In a comparable deal, brokers said Neu Seeschiffahrt is selling a similar but older Chinese-built ship, the 176,000-dwt Harriette N (built 2011), to a Chinese buyer for $23m.
Neu did not respond to a request for comment.
In March, Berge Bulk sold the 263,000-dwt Berge Manaslu (built 1992). This year, the company also sold the 289,000-dwt Berge Denali (built 1992) for demolition.
The company has 60 bulkers of capesize capacity or larger.
Its oldest bulker is the 44-year-old, 364,000-dwt Berge Stahl (built 1986), which for 25 years was the biggest bulker in the world. This ship is not due for special survey until December 2021.
