Campbell Shipping has sold a handysize bulker in a deal that shows that even elderly China-built units are holding their value.
The shipowner, which has Scottish roots but today is based in the Bahamas, has reportedly sold the 30,465-dwt CS Caprice (built 2010) to unidentified buyers for $11m.
The Trader-design vessel has a ballast water treatment system (BWTS) and was built at Tsuji Heavy Industries in China.
While under the command of Captain Joshua Bhatt in October 2015, the ship rescued 510 migrants from a vessel in distress in the Mediterranean and brought them to safety in Italy.
The incident was captured in a YouTube video by the North American Maritime Ministry Association.
Campbell has a live fleet of 14 handysizes, two supramax bulkers and two small cruise ships.
The sale price for the CS Caprice is more than was achieved the last time a comparable yet slightly larger vessel was reported sold.
South Korean owner Pan Ocean achieved a price in the region of $10.3m when it sold the 32,593-dwt Pan Ivy (built 2010) to undisclosed buyers at the end of May.
The ship was built at Taizhou Maple Leaf Shipbuilding in China and is fitted with a BWTS.
Analysts told TradeWinds last week that high newbuilding prices are lifting the values of both modern tonnage and vessels that are over 10 years old with efficient designs.
Chinese owners have been enthusiastic buyers of many older — and cheaper — handysize and supramax units this year so far.
Clarksons currently estimates one-year period rates of $15,000 per day for handysizes and $10,000 per day for three years.
The firm has tracked sale transactions for 120 handysizes since the start of this year, equivalent to 30% of the 389 bulker deals overall.
