Adam Polemis-controlled New Shipping's first reported purchase of the year has emerged. New Shipping, which controls some 30 vessels, has taken Daiichi Chuo's 37,000dwt Ocean Kite.

Much of Daiichi Chuo's fleet has been on the chopping block since it sought court protection in Tokyo last September.

The four-year-old dry bulk carrier first showed up in broker reports as sold to Vietnamese buyers for US$8.5m in February. The ship has already changed its name to New Commander.