Agricore Expands Fleet with Cape Aqua Acquisition
Chinese dry bulk giant Agricore has confirmed its purchase of the 178,100 dwt vessel Cape Aqua, built in 2009 by Shanghai Waigaoqiao Shipbuilding. This acquisition follows last week’s reports that Primebulk sold the ship for approximately $25.5 million to undisclosed Chinese interests. The deal highlights Agricore’s aggressive expansion strategy in the dry bulk sector.
Strategic Growth in the Dry Bulk Market
Founded in 2016, Agricore has rapidly established itself as a significant player in China’s dry bulk industry, particularly in the capesize segment. The company currently operates eight capesize vessels and several panamaxes, showcasing its commitment to expanding its fleet. The recent acquisition of Cape Aqua marks Agricore’s second significant move in the sales and purchase (S&P) market for 2025, following the sale of a 2011-built kamsarmax from Tsuneishi Zhoushan in June.
According to fleet data from VesselsValue, Agricore has actively engaged in the market, selling 14 vessels and acquiring 17 over recent years. This dynamic activity reflects the company’s strategic focus on growth and modernization. In addition to its acquisitions, Agricore is also pursuing an ambitious newbuilding program, with eight bulkers currently on order at Chinese shipyards. These new vessels, ranging from ultramax to newcastlemax, are expected to be delivered next year, further enhancing Agricore’s operational capabilities.
As Agricore continues to expand its fleet and strengthen its position in the dry bulk sector, the company is poised to play a pivotal role in the evolving maritime landscape. The acquisition of Cape Aqua not only underscores Agricore’s growth trajectory but also highlights the ongoing demand for bulk carriers in the global shipping market.
