Chinaland enters cape segment

Source:Splash247.com
2024.10.24
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Shanghai-headquartered Chinaland has moved into the cape segment with two purchases, joining a string of other Chinese owners, putting its trust in sustained growth for vintage giants.

Earlier this month, brokers reported that Taiwanese owner CMT, a pure cape player, sealed its first sale in over a decade, offloading the 19-year-old China Peace for around $20m. Now, fleet registers confirm the sale, with sources telling Splash that Chinaland has taken delivery, renaming the vessel Chinafrie Happiness.

In a quiet August deal, Chinaland made its first foray into the same segment, snagging Lila Cochin – now Chinafrie Luck – from Lila Global at a discount, as it has its special survey and dry dock due.

Chinaland’s past has traditionally focused on handymaxes and supramaxes.

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