China is dominating the secondhand capesize market this year, and Winning is topping the buyer table. Winning Shipping is closing in on double-digit capesize purchases in 2025, emerging as the buyer of its six-vintage newcastlemax deals in as many months. The latest addition is an 18-year-old heavyweight, purchased for an undisclosed fee. The Chinese owner has been throwing money at elderly Japanese-built tonnage, rapidly expanding its footprint. In the newcastlemax segment alone, Winning Shipping has added roughly 1.5m dwt of carrying capacity this year. The ships are deployed on the Guinea&ndash;China bauxite trade, serving the world’s largest bauxite mover.The Universal-built newcastlemax <em>London Spirit</em> has been identified as the most recent purchase.The 300-metre-long, 50-metre-wide vessel was sold by Greek owner John Inglessis, controlled through JHI Steamship. Following the sale, the owner is left with a two-year-old ultramax and a 15-year-old LR2 on the water.According to VesselValue data, the media-shy outfit has also been active in tankers, placing orders for three 115,000-dwt aframax crude carriers at South Korea’s K Shipbuilding, with deliveries slated for 2027 and 2028.