Hong Kong-based shipowner and operator Chellaram Shipping (Hong Kong) Ltd. (Chellship) has graciously appended another ultramax to its distinguished order book in China. CEO Vishal Khurana-led shipowner and operator Chellaram Shipping (Hong Kong) Ltd. (Chellship) ordered 63K DWT ultramax bulk carrier new-building at New Dayang Shipbuilding. Chellaram Shipping (Hong Kong) Ltd. (Chellship) will take the delivery of the ultramax bulk carriers in 2026. While the transaction remains shrouded in financial ambiguity, it mirrors the undisclosed sum of the prior two 64K DWT ultramax bulk carriers that Chellaram Shipping (Hong Kong) Ltd. (Chellship) commissioned from the same shipyard, renowned for its ultramax expertise, in the September of the preceding year. Tracing the company’s venerable lineage to Madras, India, Hong Kong-based shipowner and operator Chellaram Shipping’s (Chellship) inception can be attributed to the late Kishinchand Chellaram in 1916, where he pioneered a textile empire. The maritime venture was inaugurated by Lal Chellaram in the heart of Hong Kong in 1979. Presently, Chellaram Shipping (Chellship) boasts a fleet of 19 bulk carriers, with an additional three (3) ultramax bulk carrier new buildings at New Dayang Shipbuilding, new buildings are anticipated to augment Chellaram Shipping’s (Chellship) ranks in the imminent years. 9-August-2023
As the week unfurled, Greek Konstantinos Konstantakopoulos-led New York-listed shipowner and operator Costamare Inc. (CMRE) revealed its acquisition of the 2010 built supramax bulk carrier MV Darya Lakshmi, from Hong Kong-based shipowner and operator Chellaram Shipping (Hong Kong) Ltd. (Chellship). Earlier this year, CEO Vishal Khurana-led shipowner and operator Chellaram Shipping divested itself of a supramax bulk carrier nearly identical in age to MV Darya Lakshmi, and has since been indefatigably active. Reports indicate the addition of four bulk carriers to Chellaram Shipping (Hong Kong) Ltd.’s (Chellship) fleet, while two have been sold off. Chellaram Shipping (Hong Kong) Ltd. (Chellship) showing an affinity towards the handysize sector. Numerous intermediaries are associating Chellaram Shipping (Hong Kong) Ltd. (Chellship) with the four-year-old handysize bulk carrier 38K DWT MV Ultra Calbuco, a notable handysize bulk carrier recently parted with by Ultrabulk for just shy of $24 million. This novel acquisition stands as the most recent and youngest handysize bulk carrier in Chellaram Shipping’s formidable 15-ship bulker division. Moreover, Chelleram has embarked on commissioning new vessels. Word has it that Hong Kong-based shipowner and operator Chellaram Shipping (Hong Kong) Ltd. (Chellship) has recently engaged with China’s Chengxi Shipyard to commission a kamsarmax bulk carrier 82K DWT, accompanied by an auxiliary option. 28-July-2021
Vikrant Bhatia’s illustrious 13-year tenure as the captain of KC Maritime’s ship draws to a dignified close tonight. Tomorrow, the mantle of CEO for the distinguished Hong Kong-based shipowner and operator Chellaram Shipping (Hong Kong) Ltd. (Chellship) will gracefully pass to the firm’s incoming chairman, Gautam Chellaram, who will elegantly don both the hats of chairman and CEO. Vikrant Bhatia, an esteemed figure in the maritime community, will gracefully exit the executive cadre but will remain an instrumental pillar, guiding the management cadre through this transitional phase for several ensuing months. Previously, Vikrant Bhatia was meticulously sought out to spearhead KC Maritime in 2008, following a commendable 18-year chapter with another eminent Hong Kong maritime entity, Valles Steamship. Established in 1999, KC Maritime began its voyage as the dry bulk subsidiary of the renowned Chelleram Group. Presently, KC Maritime boasts command over an impressive fleet comprising five (5) kamsarmax bulk carriers, three (3) panamax bulk carriers, two (2) ultramax bulk carriers, and a pair of cement carriers. 30-May-2021
Hong Kong-based shipowner and operator Chellaram Shipping (Hong Kong) Ltd. (Chellship) is discreetly revitalizing its armada, both procuring and divesting bulk carriers. CEO Vishal Khurana-led shipowner and operator Chellaram Shipping has orchestrated numerous transactions this spring. On the acquisition front, Chellaram Shipping (Hong Kong) Ltd. (Chellship) has recently surfaced as the purchaser of a bulk carrier relinquished by Scorpio, the 2018 built kamsarmax bulk carrier MV Darya Neeti (ex MV SBI Lynx), for a sum of $22.2 million. This majestic ship has since been christened as Darya Neeti. Additionally, Hong Kong-based shipowner and operator Chellaram Shipping (Hong Kong) Ltd. (Chellship) has incorporated an ultramax into its fleet, fresh from its construction; the ultramax bulk carrier MV Darya Heera (ex MV Bohai Venture). CMB Financial Leasing is recognized as the vessel’s previous custodian. Chellaram Shipping (Hong Kong) Ltd. (Chellship) has partaken in a slew of resales emanating from establishments like Tsuneishi Shipyard and Yangzijiang Shipyard. Chellaram Shipping has concurrently relinquished a multitude of bulk carriers. The commencement of the year saw the divestiture of the 2008 built supramax bulk carrier 56K DWT MV Darya Mahesh, for a sum of $9.5 million. Currently, another transaction has surfaced, marking the divestment of its sister ship, MV Darya Lakshmi, for a tidy sum of $14.24 million. The illustrious tale of Chellaram Shipping harks back to Madras, India, where in the year 1916, the late patriarch Kishinchand Chellaram, the luminary behind the conglomerate, pioneered a textile enterprise. 26-May-2021
Hong Kong-based shipowner and operator Chellaram Shipping (Hong Kong) Ltd. (Chellship) has finalized its most opulent transaction in the pre-owned market thus far, procuring 2019 built kamsarmax bulk carrier 82K DWT MV Zephyrus for a sum just shy of $37 million from Argentine-based Interocean. CEO Vishal Khurana-led shipowner and operator Chellaram Shipping, amidst its sophisticated fleet augmentation phase, has inaugurated two pristine bunkers this annum from the distinguished Dalian Cosco KHI Shipyard. Chellaram Shipping ‘s engagements sum up to nearly $150 million in transactions this year alone, inclusive of five bulk carriers acquired and two divested. 20-October-2021
Hong Kong-based shipowner and operator Chellaram Shipping (Hong Kong) Ltd. (Chellship) sold 2008 built supramax bulk carrier 56K DWT MV Darya Mahesh for around $12.5 million. MV Darya Mahesh was built at Mitsui Engineering & Shipbuilding. A plethora of transactions executed by CEO Vishal Khurana-led shipowner and operator Chellaram Shipping seemingly remain concealed from public purview. Notably, both the 2008 built supramax bulk carrier 56K DWT MV Darya Mahesh and sister ship 2009 built supramax bulk carrier 56K DWT MV Darya Lakshemi were acquired by Chellaram through discreet, off-market negotiations. Chellaram Shipping (Hong Kong) Ltd. (Chellship) boasts a fleet of 13 bulk carriers, varying in magnitude from handysize to kamsarmax, boasting a median age of merely five years. This transaction materialized subsequent to Chellaram Shipping (Hong Kong) Ltd.’s (Chellship) divestment of the 2006 built supramax bulk carrier 56K DWT MV Darya Brahma to Bahtera Adhiguna of Indonesia, in exchange for $10.8 million. 18-October-2019
Hong Kong-based shipowner and operator Chellaram Shipping (Hong Kong) Ltd. (Chellship) has recently consummated its inaugural transaction in the secondhand market in over a year. CEO Vishal Khurana-led shipowner and operator Chellaram Shipping, boasting a fleet of 13 bulk carriers, has elegantly divested itself of its most antiquated supramax bulk carrier. Chellaram Shipping (Hong Kong) Ltd. (Chellship) sold Mitsui-constructed 2006 built supramax bulk carrier 56K DWT MV Darya Brahma for a sum slightly shy of $11 million. Chellaram Shipping (Hong Kong) Ltd. (Chellship) sold MV Darya Brahma to Indonesian shipowner and operator Pelayaran Bahtera. For over a decade, 2006 built supramax bulk carrier 56K DWT MV Darya Brahma has dutifully served as a lucrative asset for Chellaram Shipping (Hong Kong) Ltd. (Chellship). Chellaram Shipping (Hong Kong) Ltd. (Chellship), founded by the illustrious Lal Chellaram in 1979, remains one amongst a select cadre of family-operated maritime entities gracing the shores of Hong Kong, with Lal Chellaram presiding as the reigning group chairman. 4-June-2019
WhileHong Kong-based shipowner and operator Chellaram Shipping (Hong Kong) Ltd. (Chellship) has been steadily divesting its dry bulk holdings throughout the current year, it continues to discern potential lucrative acquisitions. Clarksons Research has identified them as the recent acquirer of the freshly commissioned kamsarmax bulk carrier MV Bavang. This brand-new kamsarmax bulk carrier MV Bavang, initially commissioned by Klaveness Bulk at the distinguished Yangzijiang Shipyard in China, fetched a price of $19.2 million. This transaction signifies Norwegian shipowner and operator Klaveness Bulk’s departure from the kamsarmax segment, subsequent to their procurement of eight such bulk carriers from the identical Chinese Shipyard merely three years prior. 30-October-2016
Hong Kong-based shipowner and operator Chellaram Shipping (Hong Kong) Ltd. (Chellship) has consummated the acquisition of the ultramax bulk carrier 60K DWT MV Aby Paola, valuing it at a notable $19.5 million. Intriguingly, this marks their inaugural prominent bulker acquisition after a prolonged hiatus. Remarkably, this transaction seems advantageous for ABYO, given that VesselsValue.com appraises the vessel, merely a year in service, at a market value of $16.72 million. The divesting party, ABYO, represents a collaborative endeavor among prestigious entities: York Capital Management, Augustea, Bunge, and Oceanbulk. Their fleet boasts two bulkers: 2006 built kamsarmax bulk carrier 82K DWT MV Abyo Oprah and capesize bulk carrier 175K DWT MV Abyo Audrey. CEO Vishal Khurana-led shipowner and operator Chellaram Shipping’s prestigious fleet comprises approximately 10 medium-sized bulker carriers. Furthermore, their extensive portfolio includes offshore and dredging ships. 18-May-2016