Singapore’s Pacific International Lines (PIL) is said to be exiting the market for capesize bulkers.
Shipbrokers say PIL is selling the Hyundai built 179,000-dwt Shagang Hongchang and Shagang Hongfa (both built 2011) to a Greek or Chinese buyer for $32m each.
The deal is understood to include three year charters back to the seller at $20,000 per day for each vessel.
PIL did not respond to requests for comments.
PIL bought the ships as a resale from Mitsubishi Corp for $61.6m each.
In September 2011 they began 10 year charters to Jiangsu Shagang at $26,849 per day.
The Singaporian company is primarily a containership player with 113 trading units on the water and two newbuildings on order.
PIL also has 13 multipurpose vessels, the two capesizes and five supramaxes that are on average five years old.
