Rapidly growing Dubai-based Turkish shipowner and operator Densay Shipping acquired 2007 built capesize bulk carrier 177K DWT MV Satori for around $18.5 million from Athens-based Pappadakis family-controlled Kassian Maritime. Notably, this potential acquisition would mark Tayfun Gunerhan-led Turkish shipowner and operator Densay Shipping’s second capesize bulk carrier. The sale price is considered firm because it is contingent on the MV Satori undergoing a drydock in January 2024. This transaction represents Densay Shipping’s first venture into the secondhand market, as the company, which currently owns a fleet of 39 bulk carriers, has been primarily focusing on investing in newbuildings. Just a few weeks ago, Dubai-based Turkish shipowner and operator Densay Shipping placed an order for a single 63K DWT (deadweight ton( ultramax bulk carrier at Sumec New Dayang for approximately $32.5 million, with delivery scheduled for the Q2 2026. In May 2023, Densay Shipping placed orders for four (4) additional ultramax bulk carriers at two different Chinese shipyards. In addition to these acquisitions, Densay Shipping has 12 more bulk carriers on order. 6-November-2023
Rapidly growing Dubai-based Turkish shipowner and operator Densay Shipping has expanded its presence in the capesize sector with the purchase of a 16-year-old capesize bulk carrier. Tayfun Gunerhan-led Turkish shipowner and operator Densay Shipping acquired 2007 built capesize bulk carrier 177K DWT MV Satori for around $18.5 million.
Despite the ongoing volatility and uncertainty surrounding the capesize sector’s long-term earning potential, capesize transactions in the secondhand market continue to occur. Some shipowners are taking advantage of shipping market conditions to acquire ships in this sector, indicating a continued interest in capesize bulk carriers. Currently, Dubai-based Turkish shipowner and operator Densay Shipping has a fleet of 39 bulk carriers, and an additional 12 new building bulk carriers are on order. 2-November-2023
Rapidly growing Dubai-based Turkish shipowner and operator Densay Shipping has returned to China and recently confirmed an order for a new ultramax bulk carrier. Tayfun Gunerhan-led Turkish shipowner and operator Densay Shipping has secured a deal for a 63K DWT (deadweight ton) ultramax bulk carrier at Sumec New Dayang Shipyard, with the purchase price estimated at approximately $32.5 million. The ultramax bulk carrier is scheduled for delivery in the Q2 2026. Back in May 2023, Dubai-based shipowner and operator Densay Shipping had already placed orders for four (4) ultramax bulk carriers at two different Chinese shipyards. Turkish shipowner and operator Densay Shipping was founded in 1992 by Tayfun Gunerhan, who began his shipping career as a deck officer in 1985. Currently, Densay Shipping has a fleet of 38 bulk carriers, and an additional 12 new building bulk carriers are on order. 24-October-2023
Dubai-based Turkish shipowner and operator Densay Shipping acquired two (2) kamsarmax bulk carriers from Norwegian shipping tycoon John Fredriksen. Currently, Tayfun Gunerhan-led Turkish shipowner and operator Densay Shipping’s fleet is running towards 40 ships. In 2013, John Fredriksen acquired two (2) kamsarmax bulk carriers as newbuildings about the same price. The Turkish-backed but United Arab Emirates-based Densay Shipping has been rapidly expanding the fleet. In Q4 2021, Dubai-based shipowner and operator swooped acquired 2012 built built capesize bulk carrier from Noble Group for approximately $28 million. Dubai-based Turkish shipowner and operator Densay Shipping was founded in 1992 by Tayfun Gunerhan, who began his shipping career as a deck officer in 1985. 19-May-2022
Tayfun Gunerhan-led Turkish shipowner and operator Densay Shipping has already taken delivery of two (2) 63K DWT ultramax bulk carriers from Nantong Xiangyu Shipbuilding & Offshore Engineering since November 2021. The Turkish-backed but United Arab Emirates-based Densay Shipping will take take the delivery of third and final ship in the same series, the 63K DWT ultramax bulk carrier MV Interceptor in April 2022. Nantong Xiangyu Shipbuilding & Offshore Engineering’s only known non-Chinese shipowner is Densay Shipping. Turkish shipowner and operator Densay Shipping was established in 1992 by Tayfun Gunerhan. 19-April-2022
Dubai-based shipowner and operator Densay Shipping ordered three (3) ultramax bulk carrier newbuildings at Imabari Shipbuilding in Japan. Tayfun Gunerhan-led Turkish shipowner and operator Densay Shipping is going to pay around $33 million for each ultramax newbuildings. Furthermore, Densay Shipping has been trying to acquire a capesize bulk carrier from the S&P (Sale and Purchase) market. Densay Shipping preferred a Japanese shipyard instead of a Chinese shipyard for the latest newbuildings. United Arab Emirates-based Densay Shipping has been expanding the company’s fleet. Dubai-based shipowner and operator Densay Shipping was established in 1992 by Tayfun Gunerhan. 8-November-2021
Dubai-based Turkish Tayfun Gunerhan-backed shipowner and operator Densay Shipping has been busy at the S&P (Sale and Purchase) market. Recently, many Turkish shipowners have been involved in renewing and expanding their fleets. Turkish shipowners have been buying, selling or ordering more than 40 bulk carriers in confirmed transactions so far in 2021 which is more than they did in the full year of either 2019 or 2020. Turkish shipowners have infrequently been so unanimous in their view that the time has come to extend their fleet. Dubai-based Turkish shipowner and operator Densay Shipping is one of the Turkish shipowners who has been in the asset play and active at S&P (Sale and Purchase) market. So far in 2021, out of the 32 confirmed secondhand S&P (Sale and Purchase) transactions, Turkish shipowners have been buyers in 29 transactions. Dubai-based Turkish shipowner and operator Densay Shipping was founded in 1992 by Turkey’s Tayfun Gunerhan, who started his shipping career as a deck officer in 1985. 20-September-2021
Dubai-based Turkish shipowner and operator Densay Shipping acquired 2010 built supramax bulk carrier 50K DWT MV SSI ERDOGAN BEY (ex MV C.S. DREAM) from Japanese shipowner Chugoku Sougyo. Tayfun Gunerhan-led Turkish shipowner and operator Densay Shipping is looking for more Japanese-built secondhand bulk carriers. United Arab Emirates-based Densay Shipping snapping up S&P (Sale and Purchase) tonnage. The overall availability of secondhand bulk carriers has reinvigorated Densay Shipping’s appetite. 17-May-2021
Dubai-based shipowner and operator Densay Shipping ordered the second ultramax dry bulk newbuilding order at Jinling Shipyard in the span of just a few weeks. Tayfun Gunerhan-led Turkish shipowner and operator Densay Shipping has signed up for two (20 63K DWT ultramax dry bulk newbuildings at Jinling Shipyard, plus an option for one (1) more ultramax dry bulk newbuilding. United Arab Emirates-based Densay Shipping will take the delivery of ultramax dry bulk newbuildings in 2021 and 2022. Densay Shipping described these ultramax dry bulk newbuildings as having very elevated specifications. 3-September 2020
Tayfun Gunerhan-led Turkish shipowner and operator Densay Shipping acquired 2013 built supramax bulk carrier 57K DWT MV SSI Conquest (ex MV SAM Hawk) from the auctioned fleet of SAM Shipping. Turkish shipowner and operator Densay Shipping uses SSI prefix when naming its bulk carriers. MV SSI Conquest (ex MV SAM Hawk) sistership MV SAM Jaguar might be acquired by Densay Shipping. 30-August-2020
Tayfun Gunerhan-led Turkish shipowner and operator Densay Shipping ordered three (3) ultramax bulk carriers 63K DWT at Nantong Xiangyu Shipbuilding & Offshore Engineering. Three (3) ultramax bulk carriers will be delivered in Q1 2022. Densay Shipping did not sign any options for the ultramax bulk carriers. China-based shipyard Nantong Xiangyu Shipbuilding & Offshore Engineering has been completing yard upgrades. Nantong Xiangyu Shipbuilding & Offshore Engineering has already delivered 25 vessels since 2018 and the shipyard concentrates on building ultramax bulk carriers. Densay Shipping’s ultramax bulk carriers are designed by Shanghai Merchant Ship Design & Research Institute. Densay Shipping’s ultramax bulk carriers will be outfitted with MAN main engine MAN Energy Solutions, which provides enhanced fuel-oil consumption. Turkish shipowner and operator Densay Shipping has not disclosed any price tag for the ordered ships. In 2017, Densay Shipping ordered ultramax bulk carriers at Jinling Shipyard. In 2019, Densay Shipping took delivery of MV SSI Privilege and MV SSI Splendid. Turkish shipowner and operator Densay Shipping has stayed away from the newbuilding market since 2017. However, Densay Shipping has been busy as an asset player on the S&P (Sale and Purchase) market. In 2018, Densay Shipping entered the tanker market and acquired two (2) tankers. Currently, Densay Shipping has a fleet of 19 ships. 12-August-2020
Turkish shipowner and operator Densay Shipping acquired 2015 built handysize bulk carrier 36K DWT MV SSI Reliance (ex MV Alkyon). Previously, MV SSI Reliance (ex MV Alkyon) was owned by Stallion Eight Shipping and managed by Ariston Navigation. MV SSI Reliance (ex MV Alkyon) was acquired by Densay Shipping in an auction in the United Kingdom after a bitter legal row. United Kingdom High Court dismissed the Stallion Eight Shipping’s move to stop the auction. Densay Shipping acquired 2015 built handysize bulk carrier 36K DWT MV SSI Reliance (ex MV Alkyon) for around $12.5 million. Densay Shipping has made profits of around $15 million in asset plays in two years. 9-July-2019
Turkish shipowner and operator Densay Shipping sold two (2) 2010 built supramax bulk carriers 57K DWT MV SSI Invincible and MV SSI Expedition to Changjiang National Shipping Group Corporation for around $25 million total. In 2016, Densay Shipping acquired MV SSI Invincible and MV SSI Expedition for around $13.5 million from a bank-driven deal.
Densay Shipping struck again with successful asset play in S&P (Sale and Purchase) market. Changjiang National Shipping Group Corporation is a unit of China Merchants Group. Currently, Changjiang National Shipping Group Corporation has a fleet of 40 ships. In recent years, Densay Shipping has completed profitable asset plays. Densay Shipping has picked substantial profits from buying and selling ships. In 2016, Densay Shipping acquired MV SSI Invincible and MV SSI Expedition from Seoul based Chang Myung Shipping as the MV CS Azalea and MV CS Champ. In 2018, Turkish shipowner and operator Densay Shipping sold 2007 built handysize bulk carrier 32K DWT MV SSI Spring for around $10.5 million to Taylor Maritime. In 2017, Densay Shipping acquired MV SSI Spring from a Japanese shipowner for around $6.5 million. In April 2019, Densay Shipping took the delivery of ultramax new-building bulk carrier 63K DWT MV SSI Splendid from Jinling Shipyard. Densay Shipping will take the delivery of another ultramax new-building bulk carrier at the end of 2019. In April 2019, Densay Shipping acquired 2012 built supramax bulk carrier 56K DWT MV SSI Invincible II (ex MV Naess Resolute) from Naess Ship Management for around $10 million. Currently, Densay Shipping has a fleet of 14 bulk carriers. Turkish shipowner and operator Densay Shipping was established in 1992 by Tayfun Gunerhan. 13-May-2019
Dubai-based shipowner and operator Densay Shipping strikes again with successful asset play. Tayfun Gunerhan-led Turkish shipowner and operator Densay Shipping sold a Chinese-built supramax bulk carrier for a price 77% above what the company paid for the ship in 2016. Dubai-based shipowner and operator Densay Shipping was established in 1992 by Tayfun Gunerhan. 20-January-2019
Tayfun Gunerhan-led Turkish shipowner and operator Densay Shipping linked to smart asset plays. Dubai-based shipowner and operator Densay Shipping resumes being at the epicenter of busy activity in the S&P (Sale and Purchase) market, both as a buyer and seller of ships. Dubai-based shipowner and operator Densay Shipping acquired 2010 built supramax bulk carrier 55K DWT MV SSI Majestic (ex MV Nichirin) for around $15.5 million. 2010 built supramax bulk carrier 55K DWT MV SSI Majestic (ex MV Nichirin) was built at Mitsui Engineering & Shipbuilding in Japan. United Arab Emirates-based Densay Shipping was founded in 1992 by Turkey’s Tayfun Gunerhan, who started his shipping career as a deck officer in 1985. 24-April-2018
Turkish shipowner and operator Densay Shipping acquired 2010 Japanese built supramax dry bulk carriers 55K DWT MV Nichirin for about $16 million. Istanbul based shipowner and operator Densay Shipping has been making potential profits on an asset play. Meanwhile, Densay Shipping is trying to sell 2005 built supramax dry bulk carrier 56K DWR MV SSI Nemesis. Densay Shipping bought MV SSI Nemesis (ex MV Nemtas 4) in 2016 from compatriot shipping arm of Nemtas Nemrut for $8.8 million which is currently valued as about $11.65 million. Turkish shipowner and operator Densay Shipping has a fleet of 14 dry bulk carriers from handysize to kamsarmax size. Turkish shipowner and operator Densay Shipping has two ultramax dry bulk carrier new building orders at Chinese Shipyard Jinling Shipyard. In December 2017, Istanbul based shipowner and operator Densay Shipping acquired 2009 built handysize dry bulk carrier 32K DWT MV SSI Magnificent (ex MV King Yukon). In March 2017, Densay Shipping acquired 2007 built handysize dry bulk carrier 32K DWT MV SSI Spring (ex MV Campanula) for about $6.5 million. In October 2017, Densay Shipping acquired 2011 built handysize dry bulk carrier 33K DWT MV Galene M for about $12.5 million from Greek owner Stamatis Molaris. But, both parties has not confirmed the sale of the ship. 28-March-2018
Tayfun Gunerhan-led Turkish shipowner and operator Densay Shipping bought 2007 built handy bulk carrier 32K DWT MV SSI Spring (ex MV Campanula) for around $6.5 million. Turkish shipowner and operator Densay Shipping managing 12 dry bulk carriers with sister company Atlantis Ship Management. Tayfun Gunerhan led Turkish shipowner and operator Densay Shipping ordered two (2) new-building ultra bulk carriers at CSC Jinling Shipyard. 25-April-2017
Turkish shipowner and operator Densay Shipping is growing the company’s fleet into the smaller-ship segment by buying a handysize bulk carrier. Tayfun Gunerhan-led Turkish shipowner and operator Densay Shipping acquired 2007 built handysize bulk carrier 32K DWT MV SSI Spring (ex MV Campanula) for around $6.5 million. MV SSI Spring (ex MV Campanula) is in line with the constant stream of bulk carrier additions that the Densay Shipping has clocked up over the past year. 19-April-2017
Istanbul-based shipowner and operator Densay Shipping acquired 2010 built supramax bulk carrier 57K DWT MV SSI Expedition (ex MV CS Champ) and 2010 built supramax bulk carrier 57K DWT MV SSI Invincible (ex MV CS Azalea) for around $6.5 million each. Tayfun Gunerhan-led Turkish shipowner and operator Densay Shipping acquired MV SSI Expedition (ex MV CS Champ) and MV SSI Invincible (ex MV CS Azalea) from South Korean shipowner and operator Chang Myung Shipping. Both MV SSI Expedition (ex MV CS Champ) and MV SSI Invincible (ex MV CS Azalea) were built at Zhejiang Zhenghe Shipyard. Densay Shipping is keeping the company’s continuous expansion course. 7-February-2017
Istanbul-based shipowner and operator Densay Shipping acquired 2014 built ultramax bulk carrier 61K DWT MV Western Narvik for around $17 million from a Japanese tonnage supplier. MV Western Narvik deal emphasizes the steadily enhancing bargaining position of tonnage sellers in the S&P (Sale and Purchase) market. Tayfun Gunerhan-led Turkish shipowner and operator Densay Shipping has been increasing the bulker fleet. 27-April-2016