India’s Adani Shipping has begun trimming its capesize bulk carrier fleet with the sale of the 179,500-dwt Aashna to Chinese buyers for approximately $37.5 million, according to shipbroking market sources.
The 2012-built vessel was initially marketed together with its sister ship, Aanya, as an en-bloc package valued at around $75 million. However, only the sale of Aashna has been concluded so far, while Aanya remains available for sale.
Both vessels were built at Hanjin Heavy Industries’ Subic Bay shipyard in the Philippines and delivered in 2012. They have been operated by Adani Shipping for over a decade and are understood to have been held under sale-and-leaseback arrangements involving Japanese trading house Kowa.
The transaction comes at a relatively strong stage in the capesize market, despite a recent softening in spot freight rates. Market assessments indicate that one-year time-charter rates for modern capesize vessels are currently around $32,000 per day, supporting continued interest in second-hand tonnage.
Adani Shipping is part of the diversified Adani Group, whose businesses span ports, logistics, energy, utilities, and materials. The group operates extensive transport and infrastructure assets across India.
The sale also reflects ongoing activity in the second-hand capesize market, with several similar vessels changing hands in recent weeks. Meanwhile, demolition activity remains subdued, with only three capesize ships reportedly sent for recycling so far this year, highlighting continued confidence in the larger dry bulk segment.
