Erasmus Shipinvest has grown its position in the capesize segment with its latest moves coming in collaboration with a major name in Chinese finance.

But Erasmus' Athens-based chief executive officer John Su is not commenting for now on business ties to China Minsheng Trust.

The Erasmus website shows three capesizes in its managed fleet. The first is the 175,000-dwt Msxt Vivienne (built 2004), in which the letters Msxt stand for "Minsheng Trust" in Chinese. This is the Teh May, which TradeWinds has previously reported to have been purchased by clients of Erasmus in February from Foremost Maritime Corp for $10.8m.

However, the other two capesizes are additions that have so far remained under wraps.

The 180,300-dwt Msxt Capella (built 2012) is the former Pacific Capella, which Singapore’s Pacific International Lines sold to unidentified buyers back in March for $27m.

The third capesize is the 178,000-dwt Msxt Trinity (built 2010). No such ship is listed in online shipping directories and Su declines to provide further details on its identity.

Like other ships in which Minsheng Trust is involved, Capella and Vivienne are listed as owned by Tianjin-based leasing entities.

Erasmus has also been busy in smaller bulker segments. The company confirmed that the 77,000-dwt Santa Celia (built 2009), a recently traded panamax bulker, will pass under its technical and commercial management under its new name Agri Kinsale.

However, it denies that it has purchased the 75,600-dwt Coral Garnet (built 2007), as TradeWinds reported last month. Su said Erasmus did not even bid for the ship.

The latest confirmed additions bring Erasmus' fleet to 16 ships, from ultramaxes to capesizes. The company was established in 2010 and is known to be working closely with big global commodity traders to whom it fixes its vessels on long-term charters.

Beijing-based China Minsheng Trust, not to be confused with two similarly named leasing companies, has emerged as one of the new financial shipowners acquiring ships as an investment at the trough of the shipping cycle.

Under general manager Zhu Yinrong (Emma Zhu), it has built up a fleet of more than a dozen bulkers in less than a year, after hiring Zhu away from China Merchants Bank (CMB) Financial Leasing, where she was head of ship leasing.

Financial sources say the company began with a pair of kamsarmaxes acquired as resales from Yangzijiang Shipyard and placed on time charter to Bunge.

Last February, Minsheng Trust picked up four supramaxes from Hong Kong's Jinhui Shipping for $48m.

"They are buying low and placing ships on charter to first-class international names. All the vessels have one-year to five-year time charters," said one source.