BW Dry Cargo sells kamsarmax trio in $41m deal

BW Dry Cargo has sold three 10-year-old, Japanese-built kamsarmaxes in an en bloc deal to an undisclosed buyer.

Sources told TradeWinds the deal is worth about $41m.

The 83,400-dwt BW Barley was constructed at Sanoyas Shipbuilding; the 82,600-dwt BW Acorn at Oshima Shipbuilding; and the 81,500-dwt BW Einkorn at Universal Shipbuilding.

The deal is understood to be subject to closing conditions.

The vessels, all built in 2010, have reportedly fetched $13.7m each, which is in line with market expectations.

Christian Bonfils-led BW Dry Cargo bought the BW Barley and BW Einkorn for about the same price as it is now poised to receive. It bought the BW Acorn for $12m in June 2016, when it was Meteor.

The deal continues an active run in the sale-and-purchase market for Copenhagen-based BW Dry Cargo.

Last month, it sold the 58,000-dwt BW Flax (built 2010), which was constructed at Tsuneishi Heavy Industries (Cebu), to a Greek buyer for $10.5m, having bought it in October 2016 for $12m.

The BW Flax remains in BW Dry Cargo’s fleet, as the deal remains on subjects.

The company owns 12 bulkers, from supramax to capesize, and has five ultramaxes on order at Oshima Shipbuilding and two kamsarmaxes at Tsuneishi Cebu, all set for delivery this year.

BW Dry Cargo was set up in 2016 and bought several bulkers when prices were low.