Golden Union Shipping of Greece has reportedly beaten off close to ten potential buyers who were interested in an NYK Line capesize bulker that was put up for sale at the end of November.
The Theodore Veniamis-led shipowner is said by brokers in Asia to have paid $14.6m for the Imabari-constructed 206,000-dwt MG Courage (built 2007). VesselsValue lists the company as the buyer and estimates the MG Courage is worth $15.2m.
At least five parties, described as “big-name players” were said to have inspected the ship.
Names mentioned at the time included Winning Shipping, Berge Bulk, Zodiac Maritime and Seacon Shipping.
Tradewinds understands that several of the ship’s suitors waived inspection before submitting offers.
The strong interest came as the dry-bulk markets continued to move in a positive direction, helped in the larger size segments by Chinese restocking demand as steel mills increase production due to higher domestic consumption.
That, together with recent predictions by shipping analysts that 2021 will be a far stronger year for dry bulk, has prompted a growing interest in capesize vessels from Greek interests.
As TradeWinds reported on Wednesday, Martinos family company Thenamaris bought the 180,100-dwt capesize Tiger Guangdong (built 2011), which was its first bulker purchase since 2016.
Clients of Piraeus-based Spring Marine Bulk emerged earlier this month as the new owners of the 180,300-dwt Aqua Vision (renamed Aipos, built 2011), which was Noble Group’s last owned ship.
Other notable buyers include the Moundreas family — who have bought four capesizes since July — and Tsakos Shipping & Trading.
Golden Union, one of Greece’s largest dry bulk players, controls a fleet of close to 50 vessels spread across most size segments, almost half of which are capsizes.
In October, it picked up Tokei Kaiun’s 180,100-dwt Royal Accord (built 2009) for about $18m. The vessel has yet to be handed over, but sources say it is to be renamed Royal Iole.
In February, Golden Union bought a sistership to the MG Courage, the 180,000-dwt Mineral Hokkaido (built 2008), for between $16m and $17m. It has been renamed Imperial Fortune. At the same time the company shed the 172,500-dwt Crassier (built 2000), which was sold for recycling in India.
In October, Golden Union bought the Japanese-controlled 180,000-dwt Royal Accord (built 2009) paying $17.8m. This vessel is now named Royal Iole.
Greek buyers are facing strong competition from buyers in China and elsewhere in Asia.
Rumours were circulating among Singaporean brokers on Friday that Berge Bulk has picked up Kumiai Senpaku’s 229,000-dwt bulker Gaia Celeris (built 2006) for $12m. Other broking sources earlier suggested the ship has been sold to Greek interests for $11.8m.
Berge Bulk does not comment on commercial matters.
Golden Union did not reply to a request for comment.
