Santoku Senpaku

Osaka-based shipowner Santoku Senpaku sold 010 built supramax bulk carrier 58K DWT MV C Lion (ex MV Sea Iris) for around $11 million to Athens-based Reefer & General Ship-Management Co Inc. Reefer & General Ship-Management Co Inc is controlled by the Greek Eugenides family. MV C Lion (ex MV Sea Iris) will be managed by Cyan Blue Shipping, a sister company of Reefer & General Ship-Management Co Inc., which is led by Giannis Vernicos-Eugenides and Christos Bamiotis. Previously, Japanese shipowner and operator Santoku Senpaku sold another to supramax to Reefer & General Ship-Management Co Inc. and Cyan Blue Shipping. 19-November-2020

 

Osaka-based shipowner Santoku Senpaku (Santoku Senpaku KK) was established by Masashi Taga in 1972. Masashi Taga bought a secondhand general cargo ship to carry spare parts for Mazda. Today, Santoku Senpaku (Santoku Senpaku KK) owns a mixed fleet of bulk carriers. Santoku Senpaku (Santoku Senpaku KK) used to own some tankers but exited from the tanker market. Santoku Senpaku (Santoku Senpaku KK) has been remaining against speculative ordering and prefers long-term charterers. Currently, conservative Japanese shipowner Santoku Senpaku (Santoku Senpaku KK) controls around 100 ships. 20-February-2020

 

Osaka-based shipowner Santoku Senpaku (Santoku Senpaku KK) favors a more conservative strategy than compatriots Nisshin Shipping and Nissen Kaiun. Santoku Senpaku (Santoku Senpaku KK) only orders new-building ships against charter employment, unlike Santoku Senpaku’ rivals. Santoku Senpaku (Santoku Senpaku KK) has taken advantage of the low shipbuilding prices in recent years to extend its fleet. Furthermore, ship financing is easily available for Japanese tonnage providers such as Santoku Senpaku (Santoku Senpaku KK). Santoku Senpaku (Santoku Senpaku KK) do not order ships on speculation and prefers a traditional strategy. Nonetheless, Santoku Senpaku’s traditional approach has served the company well during the shipping crises. Santoku Senpaku (Santoku Senpaku KK) charters out the ships on a long-term basis. In the 2000s, Santoku Senpaku (Santoku Senpaku KK) commenced working with non-Japanese charterers. Currently, 60% of Santoku Senpaku’s bulk carriers are chartered out to foreign companies. After the 2008 financial crisis, Japanese charterers began to decrease the number of bulk carriers on a long-term basis. Therefore, Santoku Senpaku (Santoku Senpaku KK) focused on foreign charterers that are ready to charter bulk carriers on a long-term basis. Like various tonnage suppliers, Santoku Senpaku (Santoku Senpaku KK) has struggled with charterers defaulting on contracts when the shipping market collapsed. Currently, Santoku Senpaku (Santoku Senpaku KK) has eight (8) new-building bulk carriers under construction at shipyards in China. Santoku Senpaku (Santoku Senpaku KK) is a traditional shipowner when it comes to new ship investments. However, Santoku Senpaku is also an opportunist. Furthermore, Santoku Senpaku (Santoku Senpaku KK) is one of the first Japanese shipowners to have gone to China to order new-building bulk carriers. In 2011, other Japanese shipowners were concerned about Santoku Senpaku’s decision to order new-building bulk carriers at Chinese shipyards as Japanese shipowners had their doubts about the quality of Chinese-built ships. Now, many Japanese shipowners are turning to China for ordering ships. Chinese shipyards caught up with Japanese shipbuilders in delivering the same quality ships. 17-February-2019