A capesize bulker owned by Fred Cheng’s Shinyo International has found period cover, brokers say.
The 176,600-dwt Shinyi Alliance (built 2005) has been chartered for between 90 and 120 days at $20,750 per day, brokers and the Baltic Exchange report.
Cheng bought the bulker last year for $11.75m as Cape Grace.
Today VesselsValue says the ship is worth $18m.
Shinyo has four bulkers and two tankers on the water, according to VesselsValue.
