CHS International Ship Management has moved into the cape segment, adding its biggest bulker to date, joining a string of other Chinese owners in seeking out capesize tonnage.
CHS has emerged as the taker of a ship sold at the end of the year, paying a premium for the 12-year-old, 182,000 dwt Sasebo-built bulker, K Confidence, now named Princess Kelly. The deal stands out as it is middle-aged tonnage, younger than the average cape being sold into China. The media-shy outfit has taken industry watchers by surprise, paying just under $34m for a ship sold by Korean outfit SK Shipping. CHS owns and manages a handful of medium-sized bulk carriers in the same age group .
Chinese owners back in cape buying mode, despite a depressed market with Splash reporting yesterday on three ships in the 20-year-old age bracket now heading to Chinese ownership.
