Indian shipping company Essar has recently received a 105k dwt mini Capesize bulker which is now getting popular rapidly in the shipping market.
According to Clarkson, only around 100 mini Capesize bulkers (100k-150k dwt) of 7.4m dwt is on service. In the next two years, only half of the newbuilds on  the current mini-Capesize orderbook will be delivered. The inadequate shipping capacity and considerable potential new orders give a bright picture for the future mini-Capesize sector.
The market share of the mini Capesize bulker in South East Asia dry bulk market is on continuing rise. Considering its lower draft and great loading capacity, the ship type is very suitable for some ports of underdeveloped infrastructure in India, Indonesia and other Asian countries. Especially for the trade-intensive Indian industry, the ship type could be more economical and cost-saving.
In 2007, Essar Shipping booked six mini Capesize bulkers at a cost of $35.0m each. Some shipowners form China and Cyprus also ordered the same ship typed which would be delivered in the following two years.