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By : Sam Chambers
The Vietnamese are getting more adept at shipping asset plays. Tan Binh Shipping, which took the 10-year-old, 33,000
dwt Angel Jupiter bulker, from Sanko Steamship this March for $5m, has just sold it on for $7.2m to an unspecified
European owner.Brokers were unable to identify the buyer but the sale of the ship, since rechristened Tan Binh 234,
marks a sign of new dexterity at the Vietnamese owner, which has been very active in the S&P markets for the past 18
months. It also reaffirms market sentiment that dry bulk prices have bottomed out. In another rare example of a
Vietnamese owner performing an asset play, Haiphong-based Viet Long JSC last month pocketed a tidy $1m profit
from a quick bulker turnaround. The Southeast Asian owner bought the Bianco Venture handy bulker at the start of
the year for $5.2m. The Oshima-built ship, rechristened Great Pride, has now been bought by Hong Kong’s Taylor
Maritime for $6.2m, according to brokers. Source : Splash 24/7
The Vietnamese are getting more adept at shipping asset plays. Tan Binh Shipping, which took the 10-year-old, 33,000
dwt Angel Jupiter bulker, from Sanko Steamship this March for $5m, has just sold it on for $7.2m to an unspecified
European owner.Brokers were unable to identify the buyer but the sale of the ship, since rechristened Tan Binh 234,
marks a sign of new dexterity at the Vietnamese owner, which has been very active in the S&P markets for the past 18
months. It also reaffirms market sentiment that dry bulk prices have bottomed out. In another rare example of a
Vietnamese owner performing an asset play, Haiphong-based Viet Long JSC last month pocketed a tidy $1m profit
from a quick bulker turnaround. The Southeast Asian owner bought the Bianco Venture handy bulker at the start of
the year for $5.2m. The Oshima-built ship, rechristened Great Pride, has now been bought by Hong Kong’s Taylor
Maritime for $6.2m, according to brokers. Source : Splash 24/7