Larger bulkers in vogue at Eastern Pacific after latest capesize purchase –

Idan Ofer’s Singapore-based Eastern Pacific Shipping (EPS) has acquired Japanese-built (2010) capesize bulker Graceful Madonna.

Seasure Shipbroking is reporting that EPS has paid $20m to Japan’s Doun Kisen for the vessel, which has its special survey passed and BWTS fitted. The price is slightly more than the $19.4m market value quoted by VesselsValue.

EPS currently has 14 capesizes in its fleet, with a further two under construction with delivery expected in 2022. It also owns a pair of VLOCs, two panamaxes, and a handful of ultramaxes and handysizes which it has been in the process of offloading for some time as part of efforts to focus on the larger bulk segments.

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