Troubled Daiichi Chuo Sells Capesize Bulker to NS United

Financially-troubled Japanese dry bulk specialist Daiichi Chuo Kisen Kaisha has sold a 2010-built Capesize bulker and its remaining 15-year charter to compatriot NS United Kaiun Kaisha and its Panamanian subsidiary company for USD 63.38 million.

The 207,791 dwt Katsura, currently in the sixth year of a 20-year charter contract for the transportation of raw materials Daichii signed with Nippon Steel & Sumitomo Metal Corporation in September 2010, is expected to be delivered to NS United in November 2015.

”In our three-year Medium-Term Business Plan, “Unite & Full-Ahead! (Part II),” which was formulated in May 2014, we set a target of operating fleet volume to reinforce by 50 Capesize by the end of FY 2018. This is our most important Mid-Term Goals in addition to expanding a  share of transportation for Nippon Steel & Sumitomo Metal Corporation. We believe that this acquisition will contribute to our Mid-Term Goals,” NS United said in a statement.

Mitsui O.S.K. Lines (MOL), owner of 16.64% of shares in Daiichi, earlier this week said it expects to record a JPY 26.2 billion (USD 220m) loss in the first half of FY2015 after Daiichi applied for the start of civil rehabilitation proceedings on September 29.

World Maritime News Staff

Related news

List of related news articles