The Stellar Daisy loss is set to hasten Polaris Shipping’s fleet renewal programme but could also delay a planned flotation and move into the tanker market.
Industry players believe that the Korean shipowner will now bring forward a planned order for at least 10 very large ore carrier (VLOC) newbuildings at Hyundai Heavy Industries (HHI). Polaris controls 18 converted ore carriers that were built between 1990 and 1995 that it has plans to replace.
