A financing sale of the first of GPO Heavylift’s semi-submersible newbuildings has fallen through, with Hong Kong investor Asia Energy Logistics (AEL) taking its cash to the dry bulk sale-and-purchase (S&P) market instead.
AEL is now on the lookout for bulkers up to ultramax size, after the lapse of a memorandum of agreement (MOA) to acquire the 65,000-dwt semi-sub heavylift GPO Grace (built 2017) for management by seller GPO Heavylift.