Major Turkish shipowner Yasa Shipping has cashed in on rising bulker values by reselling two of its newbuildings.
A pair of open-hatch handysizes contracted by the company at Jiangmen Nanyang Ship Engineering emerged with other owners shortly after their delivery.
The 40,500-dwt Yasa Violet (built 2024) is now listed with South Korea-based Pan Ocean under a new name, the Pan Ruby.
The sister ship Yasa Daisy is trading as the St Michael with United Arab Emirates-based TMC Shipping.
Yasa managers declined to comment on the conditions under which the two vessels changed hands, citing standard policy not to comment on commercial matters.
Several brokers and shipping reference sources, however, indicate that the ships were sold to their new owners at a price that exceeded the newbuilding cost Yasa had incurred for them.
The Yasa Daisy and Yasa Violet were part of a wider order placed by the Istanbul-based company at Jiangmen in 2022. Their price remained undisclosed at the time but average newbuilding prices for such ships during that period suggest the cost for each must have been around $30m, according to Clarksons data.
This is about $4m below the price at which London-based brokers report that Yasa sold both vessels to Pan Ocean and TMC between March and May.
Pan Ocean likely acquired the Yasa Violet as part of its fleet renewal strategy.
The South Korean company reportedly sold an older vessel on the secondhand market earlier this month. Several brokers in Greece and the US relate that the 32,600-dwt Pan Ivy (built 2010) has changed hands for $10.3m in a sale to undisclosed buyers.
The situation is similar for TMC, which sold its oldest handysize, the 28,300-DWT Charbel (built 2001), in February at an undisclosed price. The vessel is now trading as Dr Sarkas with Piraeus-based Sarkas Shipholding.
