Rumours linking Fred Cheng to the purchase of a capesize bulker are off the mark.
Cheng’s Shinyo International is tipped by multiple brokers to have bought the 172,000-dwt Mona Frontier (built 2001) from Kumiai Navigation of Singapore.
Well placed sources tell TradeWinds the company neither bought or submitted an offer for the ship.
Clarksons lists Shinyo International with three capesizes in the water following its return to shipowning with the purchase of the 176,000-dwt Cape Grace (built 2005) from Doun Kisen last March.
