Rusty Capes Are Selling Fast

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Rusty capes are selling fast, reports Splash247.

Profitable vessel sales

Fred Cheng’s Shinyo International has made his move in the recent revival of dry bulk S&P, cutting his cape arm in two by selling the 177,000 dwt, 17-year-old, Namura-built Shinyo Guardian, a ship he bought three years ago when it was known as Aquabella.

Turkish Beks Ship Management has been linked to this purchase by several brokers who also tie fast-growing Beks to the 20-year-old 185,000 dwt Agia Trias, a ship that’s sold for some $15m by Greek Holger Navigation.

A third cape is reported sold in October, the one-year younger 171,000 dwt Lila Nantong has found a new home for some $16m. The last comparable vintage cape deal is from August when the 2000-built Winning Integrity was reported sold for scrap.

New information has emerged on this ship this month. It has resurfaced as Winnie, listed as owned by a one-ship strong outfit called Stark Maritime.

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Source: Splash247

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