Maybulk on Selling Spree

 

This comes on the heels of reports that it has sold one of its five post-Panamax dry bulk carriers — the 87,000-deadweight tonne (dwt) Alam Pesona — for US$6.8 million (RM27.88 million).

 

The country’s largest dry bulk shipowner controlled by tycoon Tan Sri Robert Kuok  is now in talks to sell Alam Padu, a bulk carrier built in April 2005 and has a deadweight of 87,000 tonnes, and Alam Murni, which is a 2003-built, 53,000dwt Supramax bulk carrier.

 

Sources said that while Alam Pesona had been sold to Greek shipowner Navitas Compania Maritima SA, it is unclear who the buyers of the other two vessels are.

 

Based on recent price tags, the two vessels could fetch more than US$10 million. This is based on the sale price of Alam Pesona, at US$6.8 million, and that of Jin Hui, a 50,800dwt bulker that was sold by Hong Kong’s Jinhui Shipping & Transportation Ltd for about US$3 million in March.

 

However, considering that Jin Hui was 16 years old, Maybulk’s younger vessels may be able to fetch more.

 

Still, industry sources are suprised by Maybulk’s move.