John Michael Radziwill is set to sweep up the 11-strong bulker fleet of Rewood Ocean Shipping Co (Rosco), sources say.
Talk of a deal running to $185m is rife in the market in what would be Radziwill's second major transaction in quick succession.
Chinese owner Rosco has been seeking a buyer for one capesize, three kamsarmaxes and seven panamaxes as parent, Sanhe Hopefull Grain & Oil Group, wants to cash out.
TradeWinds has reported that a price of $200m had been placed on the fleet, with limited interest at that level.
Now, multiple-market sources believe Radziwill has stepped in to take the bulkers.
While a price of $185m in being widely mentioned, some point to a lower figure of around $177m.
A Rosco sale and purchase official told TradeWinds there had been no word from top company management of a completed transaction. He declined to comment further on the company's future following a possible fleet sale.
Radziwill declined to comment on market rumours as a matter of policy.
Shipbrokers say the deal has Radziwill “written all over it”, with the size and age of the ships fitting well with his recent actions in the recovering dry cargo market.
GoodBulk, the vehicle the shipowner is building for a listing in New York, was the largest single buyer of second hand dry cargo vessels globally last year.
Its haul included 13 capesizes from CarVal in two tranches just before Christmas in a move that saw the seller become the leading shareholder in the company.
CarVal holds a 44% stake in GoodBulk, with anchor investors Lantern Asset Management, Mangrove Partners, Fidelity and CTM holding a combined 41%. Brentwood Group owns a further 14% slice.
C Transport Maritime (CTM), Radziwill’s private vehicle which manages bulkers for GoodBulk and others, is also touted as the buyer by some.
GoodBulk, which is listed on Oslo’s over the counter market, has 22 capesizes in the water alongside a single panamax and two supramaxes.
TradeWinds reported last week that CTM was seeking to replicate the growth of its supramax and capesize bulker pool with spot-trading panamaxes.
The planned sale of the Rosco fleet, which TradeWinds exclusively reported in January, is said to be driven by the investment plans of Rosco's parent company, Hebei-based Sanhe Hopefull Grain & Oil Group.
Proceeds are expected to fund a new pressing plant in southern Guangxi province. Rosco has operated with a relatively low profile since moving its shipping operations out of Shanghai two years ago.
