JP Morgan has reportedly purchases two secondhand capesize bulkers after it entered into an agreement to buy the vessels ‘Cartigny’ and ‘Chevrier’ from SwissMarine Services SA.
The secondhand vessels were built in 2016 at Japan Marine United shipyard and have a market value of around USD 41 million.
Agreement on charter rates:
The 182,000 vessels are touted to be purchased for USD 44.8 million each and the company has also signed an agreement for three-year bareboat time charters for each bulk carrier, with daily rates of USD 17,000.
Investing in distressed ships:
In June, JP Morgan Asset Management managed to raise USD 480 million from insurers and pension funds aimed at investing into distressed shipping assets. The fund sparked considerable interest as the shipping sector proved to be one of the sluggish sectors that abounds in cheap assets.
Did you subscribe for our daily newsletter?
It’s Free! Click here to Subscribe!
Source: World Maritime News
