Chinese shipowner Maple Leaf Shipping is set to trim its fleet again, putting a modern handysize bulker up for sale after an unreported deal to offload a supramax earlier this year.
Company officials confirm that the 35,000-dwt Maple Star (built 2012) became a "potential sale candidate" as of the end of last week. The ship, which was built at Taizhou Maple Leaf Shipbuilding, is waiting to load at Portland, Oregon, for discharge in China.
It has been in the company’s fleet since it was built and could be expected to fetch $10m.
Maple Leaf is the shipowning affiliate of the similarly named shipyard, operating nine bulkers and three tankers on a 50:50 mix of spot and time charters. Officials say the company can sell ships at any time, given its links to the yard.
In May, Maple Leaf put the 57,000-dwt Maple Ruby and Maple Opal (both built 2010) up for sale. Although sources say both remain in the fleet of the Shanghai-based owner, company officials tell TradeWinds that the Maple Ruby has been sold to a Chinese buyer for international trading. It has been renamed Xin Tuo.
In November last year, Maple Leaf concluded two deals. The 23,000-dwt bulkers Maple Pearl (built 2009) and Maple Harmony (built 2010) were sold to Roswell Navigation of Greece for $4m each. They are likely worth about $2m more each today.
Also, the 32,000-dwt Maple Fortitude (built 2011) was traded to a KS (limited partnership) company set up by Ness Risan & Partners for $5.9m. That ship is also worth around $2m more today.
On average, the fleet is five years old and all units were built in China, mostly at Taizhou Maple Leaf.
