Greathorse Shipping

Chinese Tiger Group controlled Greathorse Shipping is in talks for a leaseback sale of its four (4) capesize bulk carriers. No deal has been materialized yet. Greathorse Shipping has no plans to exit the dry bulk sector after the deal.

Greathorse Shipping had committed for a leaseback sale of four (4) Qingdao Beihai built capesize bulk carriers to an undisclosed Chinese leasing company at $84 million enbloc.

  • MV Tiger Jiangsu (180K DWT built 2010)
  • MV Tiger Guangdong (180K DWT built 2011)
  • MV Tiger Shandong (180K DWT built 2011)
  • MV Tiger Liaoning (180K DWT built 2011)

Tiger Group is controlled by Canadian investors Graham Porter and Gerry Wang. Tiger Group is the leading investor behind CC Xue led Greathorse Shipping. According Graham Porter, the company is very negative on scrubbers. Shanghai-based Greathorse Shipping owns and operates:

  • fleet of chemical tankers
  • fleet of bulkers as a tonnage provider
  • affiliated to Tiger Group’s LNG container shipping project

Recently, Greathorse Shipping has sold down in ultramax segment. Currently, Greathorse Shipping controls 14 bulk carriers:

  • Four (4) capesize bulk carriers
  • Three (3) mini-capesize bulk carriers
  • Four (4) panama bulk carriers
  • Three (3) ultramax bulk carriers

Greathorse Shipping remains bearish in in dry bulk market. According Graham Porter, future shipping business in long term full of uncertainties due to changing trade and decarbonization policies.

Graham Porter believes that the European Union could make sudden regulatory moves and impose unilateral fuel restrictions and carbon taxes. China could do the same.

In 2017, Greathorse Shipping cashed out of its containership interests. Greathorse Shipping sold its share of financial owning vehicle Greater China Intermodal Investments (GCI) to Seaspan. On the other hand, Greathorse Shipping plans to keep and operate in chemical carrier business.