The Thailand-listed shipowner and operator, Precious Shipping, has made a significant move in the secondhand market by acquiring a handymax bulk carrier. Under the vigilant leadership of CEO Khalid Hashim, Precious Shipping is committed to the continuous rejuvenation and enhancement of its fleet, as demonstrated by the recent acquisition of a handymax bulk carrier. In a regulatory filing with the Stock Exchange of Thailand (SET), Precious Shipping announced the procurement of a modern handymax bulk carrier, marking a pivotal step in its strategy to modernize its fleet. The acquisition involved the purchase of the 2018-built, 39K DWT MV Interlink Amenity for an approximate value of $25.25 million from Interlink Maritime, a notable Bermuda-based shipowner and operator. Interlink Maritime, renowned for its diverse and modern fleet, specializes in the operation of bulk carriers that are instrumental in the global maritime logistics chain. This strategic purchase from such a reputable partner underscores Precious Shipping’s ambition to bolster its operational capabilities with high-quality vessels. Constructed in China, the MV Interlink Amenity stands as a testament to the latest advancements in shipbuilding technology. The vessel is expected to be delivered to Precious Shipping by the end of April 2024, and it will proudly bear the Singapore Flag upon its integration into the fleet. This move by Precious Shipping not only enhances its competitive edge in the maritime sector but also aligns with its growth objectives and commitment to sustainability and efficiency in its operations. 9-March-2024
Bermuda-based shipowner Interlink Maritime exercised an option to buy back the bareboat-chartered 2015 built handysize bulk carrier 39K DWT MV Interlink Dignity from lease company Oslo-based Ocean Yield. 2015 built handysize bulk carrier 39K DWT MV Interlink Dignity was then flipped to Tufton Oceanic Assets for around $26 million. Oslo-based lease company Ocean Yield had received gross proceeds of approximately $11.5 million from the agreement. 2015 built handysize bulk carrier 39K DWT MV Interlink Dignity was acquired by Oslo-based lease company Ocean Yield from Bermuda-based shipowner Interlink Maritime in 2018 for around $15.7 million. In Q1 and Q2 2022, Bermuda-based shipowner Interlink Maritime sold 12 bulk carriers. In March 2022, Bermuda-based shipowner Interlink Maritime sold four (4) handysize bulk carriers to a Greek shipowner for a total of $105 million en-bloc. In March 2022, Bermuda-based shipowner Interlink Maritime sold four (4) handysize bulk carriers to Tomini Shipping for a total of $102 million en-bloc. Bermuda-based shipowner Interlink Maritime sold 2016 built handysize bulk carrier 39K DWT MV Interlink Audacity, 2016 built handysize bulk carrier 39K DWT MV Interlink Affinity, 2016 built handysize bulk carrier 39K DWT MV Interlink Tenacity, and 2016 built handysize bulk carrier 39K DWT MV Interlink Utility. In January 2022, Bermuda-based shipowner Interlink Maritime purchased 2015 built handysize bulk carrier 38K DWT MV Interlink Priority from Oslo-based lease company Ocean Yield. After the sale of the bulk carriers, Bermuda-based shipowner Interlink Maritime has a fleet of four (4) handysize bulk carriers. 13-June-2022
Norwegian-listed leasing company Ocean Yield acquired 5 handysize dry bulk carriers to charter out Interlink Marine. Deal with 10-year charters worth around $75 million. Carlyle Group-backed Interlink Maritime has options to acquire the vessels during the charter period, with the first purchase option exercisable after 5 years in addition to an obligation to buy the ships at the end of the charters. Interlink Marine was founded in 1979 by Paul Gurtler. Interlink Marine owns a fleet of 28 handysize dry bulk carriers. In February 2018, Norwegian-listed leasing company Ocean Yield agreed a sale and charter back deal with Louis Dreyfus. Ocean Yield bought 2 handysize new-buildings from Louis Dreyfus in a deal that included a 12-year bareboat back to Louis Dreyfus for $18 million per ship. Ocean Yield sees potential for more transactions in the dry bulk market. Maritime leading banks have pulled back and focused on a handful of top clients. So, sale-and-leaseback deals becoming increasingly frequent in the dry bulk market. 27-February-2018