Japan’s Miyazaki Sangyo Kaiun has let go of one-third of its cape arm, pocketing $14.9 m on the sale of the 15-year-old, 203,212 DWT Pacific Oak.

Broking sources say China’s fast-growing cape player, Seacon Shipping, has sealed its second cape deal since May, bringing its cape arm up to three ships.

Miyazaki Sangyo fetched a firm price for the newcastlemax. And it will continue to make headlines in the weeks to come. Its next ship on the sales block is the 2007-built, 176,000-DWT Lowlands Erica. This ship is inspectable today in Vietnam.