South Korean flagship line HMM has been linked to another secondhand purchase in the larger bulk carrier segment.
Brokers report the Seoul-based company has snapped up the 2014-built newcastlemax Oriental Dragon from bulker owner Hebei Ocean Shipping Co (Hosco) in a deal valued at about $49.2m.
Hosco bought the Imabari-built 207,800 dwt unit as Pacific Assurance from Mitsui & Co’s Singapore-based OMC Shipping about the same time last year for $48.5m.
Last September, HMM unveiled expansion plans through to the end of the decade, setting aside a massive KRW23.5trn ($17.48bn) that will see its container fleet nearly double while its tanker and dry bulk fleets will triple in size come 2030. A KRW5.6trn has been earmarked to expand the company’s dry bulk and tanker business from 36 ships to 110 vessels of 12.56m dwt.
In January, HMM acquired the 2010 Namura-built capsize Global Enterprise for a reported $29m. The company has also been designated as the preferred bidder to acquire SK Shipping’s tanker, dry bulk, and LPG assets.
In related sales, Japanese owner Imabari Senpaku is letting go of the 2011-built capesize Frontier Garland for $31m, while Germany’s Valhal Shipping is said to have sold its 2011-built Thalassini Avra for $29.9m.