Singapore-based bulker owner Berge Bulk has expanded its fleet by acquiring a newcastlemax from Fukujin Kisen.

Brokers indicate the Universal-built 203,000-dwt Cape Daisy (built 2006) fetched $12.8m. The vessel is due for special survey in April.

The Cape Daisy was owned by Japan’s Fukujin Kisen and was operated under the commercial control of K Line. It was employed mostly under a long-term freight agreement with JFE Steel Corp.

In July, Berge Bulk bought its sister vessel the Cape Rosa (built 2005), also controlled by K Line, reportedly for $13.5m.

The Cape Rosa remains in the K Line fleet operating under a 20-year freight contract with JFE until 2024.

Berge Bulk does not comment on its commercial activities.

The company has a fleet of 54 large bulkers and has been through a massive clear-out of elderly capesizes, with eight vessels sold for demolition in the past year.

Offloaded most recently was the 170,000-dwt Berge Eiger (built 2000), which was sold for recycling in February, before the coronavirus hit the market, for $400 per ldt.

Berge Bulk is led by chief executive James Marshall, the brother-in-law of BW Group chairman Andreas Sohmen-Pao.

There are indications that there will be similar sales from Japanese owners as 10-year-old to 15-year-old tonnage completes long-term time charter and freight agreements with local operators and steel mills.

The 203,000-dwt bulker Azul Cielo (built 2005) is also reported sold this week for $14m. The vessel, owned by Kotobuki Shipping, has just completed a 15-year time-charter agreement with Mitsui OSK Lines.

The buyer is said to be Singapore’s Winning International Group in a deal that involves an initial six-month bareboat charter agreement with purchase obligation.

Brokers suggest the initial bareboat part of the deal is to overcome the difficulties in changing crew.

NYK Line has reportedly sold its 83,400-dwt bulker Key Calla (built 2010) to an undisclosed buyer for $12.75m. The vessel is due for special survey.

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