China’s Winning Shipping Leads Secondhand Cape Size Market
China’s Winning Shipping is making significant strides in the secondhand capesize market this year, positioning itself as the leading buyer. The company is on track to acquire nearly ten capesize vessels by 2025, having recently completed six transactions for vintage Newcastlemax ships within just six months. This aggressive purchasing strategy underscores Winning Shipping’s commitment to expanding its fleet and enhancing its operational capabilities.
The latest addition to Winning Shipping’s growing fleet is an 18-year-old capesize vessel, acquired for an undisclosed amount. This purchase is part of a broader trend where the Chinese company is investing heavily in older Japanese-built tonnage. In the Newcastlemax segment alone, Winning Shipping has successfully added approximately 1.5 million deadweight tons (dwt) of carrying capacity this year. These vessels are primarily deployed in the Guinea–China bauxite trade, serving as crucial assets for the world’s largest bauxite mover.
The most recent acquisition, the Universal-built Newcastlemax vessel named *London Spirit*, exemplifies Winning Shipping’s strategic focus. This 300-meter-long and 50-meter-wide ship was sold by Greek owner John Inglessis, who operates through JHI Steamship. Following this sale, Inglessis retains a two-year-old ultramax and a 15-year-old LR2 vessel in his fleet.
Winning Shipping’s Broader Fleet Expansion
In addition to its capesize acquisitions, Winning Shipping has also been active in the tanker market. According to data from VesselValue, the company has placed orders for three aframax crude carriers, each with a capacity of 115,000 dwt, at South Korea’s K Shipbuilding. These new tankers are expected to be delivered in 2027 and 2028, further diversifying Winning Shipping’s portfolio.
The company’s strategy reflects a broader trend in the shipping industry, where companies are increasingly looking to bolster their fleets amid fluctuating market conditions. Winning Shipping’s focus on both capesize and tanker vessels positions it well to capitalize on emerging opportunities in global trade.
As the secondhand capesize market continues to evolve, Winning Shipping’s aggressive purchasing strategy and commitment to fleet expansion highlight its ambition to remain a key player in the maritime industry. With a growing fleet and strategic investments, the company is poised to navigate the challenges and opportunities that lie ahead in the competitive shipping landscape.
