Piraeus-based Chronos keeps up expansion of bulker fleet

Greek owner Chronos Shipping appears to be expanding its position in panamax bulkers with its third purchase in less than two years.

13 June 2014 0:00 GMT Updated 13 June 2014 0:00 GMT

By Trond Lillestolen Oslo

Traditionally an operator of asphalt carriers, the company is now being linked to the acquisition of the Japanese-controlled, 76,000-dwt Yusho Spica (built 2006).

Some sources say the price for is as high as $21.5m but others say it is $20.2m. The deal still demonstrates the premium that Japanese-built bulkers can achieve over those from Chinese yards.

Last week, the Chinese-built, 79,000-dwt bulker Ye Shan (built 2011) was said to have made $22.1m.

Chronos