Fred Cheng-led Shinyo International continues to target the capesize market as it rebuilds its fleet.
The company is now being linked to the Namura-built, 176,000-dwt North Trader (built 2006).
It is understood to be tied up on subjects for $17.2m from Sinokor Merchant Marine (SMM), which purchased the ship less than a year ago for $14.5m. The price is close to expectations.
