Switzerland-based Doris Maritime Services is set to exit shipowning by selling its four ultramax bulkers, reportedly to China Development Bank Leasing (CDB Leasing).
Brokers in the US and in Europe said the ships — the 63,000-dwt Naess Absolute, Naess Courageous, Naess Endurance and Naess Intrepid (all built 2015) — are set to fetch $18.5m each in a deal that is on subjects until the middle of October.
The deal follows a string of acquisitions in the bulker space by low-key Chinese state banking entity CDB Leasing, which observers said is building up an owned fleet for speculative asset play.
Doris Maritime backer Nicholas Wirth said: “These four will be sold and we are redeploying in other areas. The projects are still confidential though.”
Wirth is understood to have co-investors in Doris Maritime, which has also invested in containerships in the past, and the company's deals often go under the radar.
Host of purchases
The ultramax quartet was reportedly ordered for $27m to $28m each at Cosco Shipyard. They are managed by Wirth-controlled Naess Ship Management, which was set up 25 years ago and looks after a range of different ships.
For CDB Leasing, the ultramax quartet follows the acquisition in July of seven Jinhai Shipyard-built panamaxes from HNA Group and in May of five kamsarmaxes from Chinese-controlled Singapore owner Cara Shipping, an arm of Rizhao Steel.
CDB Leasing also has an orderbook of more than 20 bulkers from handysize to newcastlemax on order at Chinese yards, including Jiangsu Yangzijiang Shipbuilding and New Dayang Shipbuilding.
CDB Leasing officials could not be reached for comment.
CDB Leasing head of shipping Xiong Jianfeng has previously told TradeWinds that his company "would never build any ship before we have the charter”.
Historic name
The name of Doris Maritime's manager is taken from the late Norwegian magnate Erling Dekke Naess, who once owned the world’s third-largest shipping company in the 1950s. He died in 1993 and his son, Michael, was also involved in shipping until he died in 2003.
Michael and Erling sold Dutch company Naess Ship Management in 1994 for a symbolic sum to its employees.
Wirth has said of Erling Dekke Naess: “I still have a letter from him on my wall. He is a legend, but for marketing purposes, it makes no difference.”
Wirth has a background as a ship’s officer, having worked on vessels for Rickmers, Nautilus Line, Suisse-Atlantique and AP Moller-Maersk.
