Zodiac Maritime Sells Cape Merlin in Strategic Move
Zodiac Maritime has made headlines with the recent sale of the Cape Merlin, a Newcastlemax bulker, to Chinese buyers for approximately $23.5 million. This transaction is part of a broader trend in the shipping industry, where secondhand deals are increasingly emerging across various segments. The sale reflects Zodiac’s ongoing strategy to optimize its fleet while freeing up capital for newbuilding projects.
Strategic Fleet Management and Recent Transactions
The Cape Merlin, a 206,000 dwt vessel built in 2005 at Imabari Shipbuilding, marks a significant transaction for Zodiac Maritime. This sale follows the recent disposal of its sister ship, the Seacon Africa, which was sold for $22.7 million last month. Both vessels were constructed at the same shipyard, highlighting the company’s focus on managing its fleet effectively. Brokers indicate that Zodiac has been actively reducing its exposure to larger bulk carriers, with four notable sales recorded in the past four months. This trend suggests a strategic shift aimed at reallocating resources to support an ambitious newbuilding program.
In addition to the Cape Merlin, the dry bulk sector has seen further activity. Chinese buyers have acquired the Cape Puffin, an 18-year-old capesize vessel built at Shanghai Waigaoqiao, although the sale price remains undisclosed. The vessel has been renamed ES Glory Sea and is now under the management of Dong Zhan Shipping. The gas sector is also witnessing movement, with the sale of the Hampshire, an 18-year-old VLGC, for around $57 million. This ship has been renamed Seabus and is now registered to Hong Kong-based Pasc Shipping.
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Container Market and Southeast Asian Interest
The container shipping market has not been left out of this wave of transactions. The 12-year-old post-panamax vessel MSC Alghero, with a capacity of 8,772 TEU, has changed hands for an undisclosed price, although VesselValue estimates its market value at approximately $91.2 million. The ship has been renamed Emerald Tower and is now registered to Hatwen Shipping in Liberia.
Additionally, Vietnam’s Hai Phuong has purchased the Eastgate, a 15-year-old open-hatch bulker built by Kanda Shipbuilding. The vessel has been renamed HPC Phoenix, reflecting the ongoing demand in Southeast Asia for versatile midsize tonnage. These transactions collectively highlight a robust appetite for secondhand vessels, as owners continue to strategically reshape their fleets and recycle capital in a dynamic market.
