Underpinned by a more optimistic outlook of China’s economic prospects, its shipowners are the busiest buyers of ageing secondhand bulkers.
Chinese interests are behind deals for at least two kamsarmaxes, one panamax and a supramax sold by Greek and Turkish owners recently.
In the first transaction, W Marine’s 76,600-dwt W-Galaxy (built 2006) is being committed to Chinese buyers for about $12.9m.
It is not a surprise to see the Athens-based company sell its oldest ship.
W Marine managers told TradeWinds last month that they were ready to shake off some of their oldest tonnage after inking their first newbuildings in 20 years.
Ionic Shipping, another Greek outfit, has found Chinese buyers in a $13.3m sale of its Japanese-built, 82,900-dwt Ionic Katana (built 2005), brokers report.
This is the oldest unit in Ionic’s fleet of 13 bulkers. Ionic, a company belonging to Greece’s Saracakis business group, also manages seven aframax tankers.
Across the Aegean Sea, Turkish owner Yasa Shipping is shaking out one of its oldest bulkers as well.
The Chinese-built, 82,800-dwt Yasa Fortune (built 2006) is said to have fetched $12.7m.
Some fleet renewal and disposal of older tonnage is natural for Yasa.
The Sabanci family company has a wide-ranging newbuilding programme of at least a dozen bulker newbuildings due for delivery between 2023 and 2025.
Something similar applies to Tayfun Gunerhan, another Turkish owner whose company Densay Shipping is based in Dubai.
Brokers report that Densay has found Chinese buyers for its second-oldest bulker — the 56,000-dwt SSI Challenger (built 2004) — which is believed to be changing hands for $10.7m.
