Golden Union picks up Japanese capesize

Theodore Veniamis-fronted owner adds to fleet with purchase of Koyo-built bulker.

Theodore Veniamis-led Golden Union continues to expand its bulker fleet and has bought a 10-year-old Japanese-built capesize. 

The company has bought the Koyo-built 180,000-dwt Shin Zui (built 2007) from Shoei Kisen of Japan for $15.7m, sources say. 

The deal reflects a firming in asset values, brokers believe.

In December the then 10-year-old 180,000-dwt Imabari built Bulk Hong Kong (built 2016) was sold to Berge Bulk for $14.2m.

Earlier this month Golden Union bought the 114,000-dwt bulker N Buchanan (built 2011) for $13m.

Golden Union is listed with 40 bulkers, plus seven panamax newbuildings at Chinese yards.