Nisshin fleet clear-out gathers pace

Handysize sales fill up this week’s broking reports as buyers look to the segment, as the smaller ships are still seen as the most stable investments in dry. 

In this segment handysize specialist Precious Shipping, led by Khalid Hashim, is back in the news after snapping up a handysize vessel, tabling $18.6m last month for the 2015-built Western Panama from Japanese owner Nisshin Shipping. 

Now, the Thai player is tipped to be the highest bidder for four more 39,000 dwt ships from the same owner. The ships were built at two different yards in China and are named Western Durban,Western Miami, Western Lima, and Western Paris. Brokers add a price tag of $78m to the deal. 

The Nisshin clear-out comes just over a year since the company’s founder, Yayoi Fujii, passed away at the age of 91.