Sources: No second capesize for Cheng

Rumours Fred Cheng had followed up his shipowning return with a second capesize purchase in three weeks are incorrect.

Cheng’s Shinyo International was this week touted as the buyer of the Namura-built, 177,000-dwt Bulk Singapore (built 2005) for $10m. The suggested price compares with the $10.8m figure placed on the bulker by VesselsValue.

Sources close to Cheng say that he did inspect the ship but instead opted for the 176,000-dwt Cape Grace (built 2005) from Doun Kisen of Japan in a $10m deal.

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