Report: JP Morgan Takes Cape Pair

US-based JP Morgan Global Maritime has been linked to a purchase of two secondhand Capesize bulkers.

The company allegedly entered into agreements to buy Cartigny and Chevrier from SwissMarine Services SA.

Once the transaction is completed, the 182,000 dwt ships will be bought for USD 44.8 million each, according to information provided by Intermodal Shipbrokers.

The agreements also include three-year bareboat time charters for each bulk carrier, with daily rates of USD 17,000.

Built at Japan Marine United shipyard in 2016, Cartigny and Chevrier have market values of around USD 41 million, VesselsValue’s data shows.

In June, JP Morgan Asset Management raised USD 480 million from insurers and pension funds aimed at investing into distressed shipping assets. The fund sparked considerable interest as the shipping sector proved to be one of the sluggish sectors that abounds in cheap assets.

World Maritime News Staff

Share this article

Follow World Maritime News

Ugland Shipping Takes Bulker Resale Pair

Ugland Shipping will buy two Ultramax resales ordered at Asian shipyards in an effort to renew its fleet.

read more →

Wallem Takes Supramax Pair Under Its Wing

Hong Kong-based maritime solutions provider Wallem Commercial Services has added two new Supramax vessels to its ...

read more →

FSRU GDF Cape Ann to Work for CNOOC in Winter

French electric utility company ENGIE has renewed the regasification and storage services contract with Chinese ...

read more →

Caterpillar Marine Powers Grand Banks' New Yacht

The Grand Banks Yachts’ GB60-03, powered by a pair of Caterpillar Marine’s Cat® C12.9 supercharged and ...

read more →

Brokers: New Times Shipbuilding Wins Bulker Pair Order

Chinese New Times Shipbuilding has been tied to an order for up to four bulkers, according to the latest report ...

read more →

Oshima to Build Two More Ultramaxes for Taiwan Navigation

In an effort to expand its dry bulk fleet, Taiwan Navigation Company (TNC) has ordered two 62,000 dwt Ultramax bulk ...

read more →

In Depth>

Philly Shipyard Posts Higher H1 Net Income

Oslo-listed Philly Shipyard ASA recorded USD 19.4 million in net income for the first half of the year, ...

read more →

NSRI Medevacs Bulker Crewman off Port Elizabeth

A Filipino crewman was medevacked from the bulk carrier Cape Orchid off Port Elizabeth on June 30, South ...

read more →

JP Morgan Tied to Bulker Purchase

JP Morgan Global Maritime is said to have set sights on buying the 2012-built Supramax bulk carrier Ocean Symphony. ...

read more →

ZIM Adds 11,000 TEU Boxship Newbuilding to ASE Service

Israel’s shipping company ZIM has deployed the 11,000 TEU newbuilding Cape Sounio in its Asia South America ...

read more →

JP Morgan Targets Shipping Assets with New Fund

JP Morgan Asset Management has raised USD 480 million from insurers and pension funds aimed at investing into ...

read more →

SHI Wins Order for LNG Carrier Pair

South Korean shipbuilder Samsung Heavy Industries (SHI) has inked a contract with compatriot natural gas company ...

read more →

Events>

<< Dec 2018 >>
MTWTFSS
26 27 28 29 30 1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30
31 1 2 3 4 5 6

Maritime Reconnaissance & Surveillance Technology

Now in its 4th successful year, Maritime Reconnaissance & Surveillance Technology is the only event that specifically.

read more >

GREENTECH IN SHIPPING GLOBAL FORUM

The mindset of sustainability and efficiency is the key to unlocking successful business…

read more >

LNG2019

LNG2019 features the largest number and highest level of LNG industry leaders.

read more >

Two More Bulkers Join GOGL’s Fleet

Nasdaq-listed shipowner Golden Ocean Group Limited (GOGL) has taken delivery of two additional second-hand bulkers ...

read more →

GOGL Takes Delivery of Two More Dry Bulkers

Bermuda-based dry bulk shipping company Golden Ocean Group Limited (GOGL) has taken delivery of two more dry bulk ...

read more →

Philly Shipyard Delivers 2nd Product Tanker to APT

US-based Philly Shipyard (PSI) has delivered the American Freedom, the second of four next generation 50,000 dwt ...

read more →