Costamare Bulkers Accelerates Ship Sales Ahead of Chinese New Year
Costamare Bulkers, the New York-listed shipping company based in Monaco, is intensifying its efforts to sell vessels as it approaches the Chinese New Year. For the second week in a row, the company has been actively listing ships for sale, with the latest addition being the supramax Clara, a 56,000 dwt ship sold for just under $12 million. This move comes amidst a strong demand from Chinese buyers for charter-free vessels, particularly older ships.
Recent Sales Highlight Market Trends
The recent surge in vessel sales by Costamare Bulkers reflects broader trends in the shipping industry, particularly the eagerness of prominent owners to capitalize on current market conditions. Following the sale of Clara, the company also reported the sale of the 81,000 dwt Miracle, a ship constructed in 2011 at Tsuneishi Cebu. This vessel, sold for approximately $32 million, was purchased by Costamare for about $27 million just last year, yielding a profit of around $5 million. Such transactions indicate that even as the market stabilizes, owners are keen to secure profits while asset values remain robust.
Safe Bulkers Positions for Recovery with $650M Fleet Renewal Strategy
Costamare Bulkers currently owns a diverse fleet of 31 dry bulk vessels, with sizes ranging from 55,000 dwt supramaxes to 180,000 dwt capesizes. The company’s strategy to offload older vessels aligns with a growing trend among shipowners, particularly those targeting the lucrative Chinese market, which has shown a willingness to invest in aged ships at competitive prices. As the company continues to navigate these sales, it underscores a proactive approach to optimizing its fleet and capitalizing on favorable market dynamics.
