HomeInternational tradeJapanese shipowner secures $78m for four-year-old Capesize

Japanese shipowner secures $78m for four-year-old Capesize

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A notably rare deal was concluded this week by Japanese shipping company Doun Kisen, which sold the 2022-built bulk carrier Princess Eternity for approximately $78m. The identity of the new owner has not been disclosed. Splash247 reports.

The 182,000-dwt vessel was built at Japan Marine United. Doun Kisen, which is controlled by the Okochi family, is currently reducing its fleet of around 20 Capesize vessels. The deal marks the company’s first sale of a vessel in this class this year.

The price is notable for the wider market. In June, Japanese shipping company Nissen Kaiun sold a sister vessel of the Princess Eternity, built two years earlier, for $66m.

The sale comes as Capesize earnings have risen sharply. Average spot rates jumped by almost 40% over the course of a week, reaching approximately $46,000 per day.

According to Splash247, strong demand for high-quality Japanese-built tonnage is helping owners secure higher prices when selling their vessels.

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