Chinese buyers have been linked to two capesize bulker purchases at reported prices of $35m and more than $40m, as investment in dry bulk tonnage continues alongside October’s tanker headlines. Splash 247 identified the transactions as the first reported capesize sales since September, with both vessels built at Chinese yards.
Estonia’s Klip Marine is reportedly leaving the capesize market through the sale of Ekaterini V to Chinese interests for $35m. The 173,555 dwt vessel was built at Bohai Shipbuilding in 2012. Its special survey and drydocking are due in January, according to the report, which places the sale more than $5m below another recent Chinese-built capesize transaction.
That comparison is with Golden Myrtalia, a 177,979 dwt bulker constructed in 2011 at Shanghai Waigaoqiao Shipbuilding. It reportedly attracted a price exceeding $40m, also from Chinese buyers. Brokers cited by Splash 247 suggested that Ekaterini V’s smaller carrying capacity and differences in the two shipyards’ market reputations could account for part of the price gap. The report did not identify the buyers of either ship.
The October deals follow a September purchase in a similar vessel-age range by Shanghai-listed HNA Technology. The company agreed to acquire Bulk Joyance, a 175,900 dwt capesize built in 2012 at Jinhai Heavy Industry, for $31.1m. Splash 247 reported that the transaction provided for relatively prompt delivery.
September also brought a capesize exit for Sunrising International, which the outlet described as a trader of older secondhand vessels. It sold the 20-year-old, 174,092 dwt Highland for $25m, having acquired the ship for around $15m in early 2024.
The reported purchasing activity coincides with a stronger market backdrop. Splash 247 cited Clarksons as recently recording an approximately 6% year-on-year increase in its iron ore indicator, providing context for the renewed interest in capesize tonnage.