Hong Kong-based handysize specialist Taylor Maritime has emerged as the buyer of a secondhand supramax, potentially marking a long-awaited shift in strategy.
The Edward Buttery-owned company is said to have bought Niovis Shipping's Tsuneishi Zosen-built, 52,000-dwt Tigris (built 2003) some time ago, with delivery this month. Taylor's most recent reported acquisition was in July.
Its website does not list the ship in the company fleet. The company declined to comment on any further undelivered acquisitions, but brokers said the Tigris is trading as the Ella.
Niovis' Basil Mavroleon said: "She is sold but I won't be able to disclose at what level. It is not my place to comment on the buyer."
He added that the deal took place "at the turn of the year" but delivery was only a couple of weeks ago.
In December, Mavroleon told TradeWinds that the Tigris had not been sold, but was on the market and available for inspection.
On the buyer's side, the transaction represents a resumption of acquisitions and a shift to a new segment. Buttery suggested in 2017 that he might look beyond handysize ships.
Taylor chief operating officer Nick White declined to comment on the acquisition or whether the company is changing its focus to larger tonnage.
"As a matter of policy, we do not comment on transactions," he said.
VesselsValue lists four Japanese-built handysizes and five supramaxes constructed this century as sold to undisclosed buyers.
At 15 years old, the Ella is Taylor's eldest ship, and the oldest it has ever bought except for the 31,800-dwt La Louise (renamed Ekaterina, ex-Leo Forest, built 1998), which it has sold.
Buttery began buying secondhand Japanese-built handysizes in September 2014 and amassed the Taylor fleet through single acquisitions at a steadily increasing rate until last summer.
At the same time, the already low-key company abruptly changed said it would decline to comment on further transactions.
'All is quiet'
On the seller's side, Niovis' fleet renewal has cut its age profile to the low single digits. It has taken a break from further disposals. "All is quiet," Mavroleon said.
In March, brokers said that Niovis had sold the Mitsui Engineering & Shipbuilding-constructed, 55,000-dwt Oxygen (built 2009), for about $13.5m. But the company said the reports were incorrect.
"The vessel remains with us," Mavroleon said. "It is not for sale."
Only one of Niovis' other ships, the 56,000-dwt Maroudi (built 2003), is older than five years.
This story has been amended since publication to reflect that the Tigris on the website of Taylor Maritime.
