Kumiai Navigation has taken advantage of a rising sale-and-purchase market for large bulkers with the sale of a newcastlemax in what one broking house described as the deal of the week.
An undisclosed Chinese buyer is paying $38.5m for the 208,000-dwt Cape Azalea (built 2012), according to brokers in the US and UK.
The reported deal also firmly solidifies China’s position as the top buyer of newcastlemax tonnage so far in 2024.
