Economou Buys Kamsarmax Pair

81

TMS Dry, one of George Economou’s dry bulk businesses, has entered the secondhand market, says an article published in Splash247.

Numerous broking reports

The panamax-focused player made headlines over the weekend as the buyer of two Kamsarmax bulk carriers built by Japan Marine United, TMS’s first purchase in 2022. 

After inviting proposals, the two 80,000 dwt ships – BTG Kailash and BTG Olympos – fetched $71 million. 

Half the price 

Bulk Trading Group, the vendor of the bulker pair, is a joint venture between Hans Peter Jebsen and his family’s Kristian Gerhard Jebsen Group and JP Morgan Global Maritime.

Between 2012 and 2013, BTG ordered a total of eight sister ships for approximately half the price, and its latest sale was well timed. 

Its most recent sale was in 2016, when it sold two ships for $23 million each. After this sale, BTG is left with four ships.

Did you subscribe to our daily Newsletter?

It’s Free! Click here to Subscribe

Source: Splash247

LEAVE A REPLY

This site uses Akismet to reduce spam. Learn how your comment data is processed.