Alberta seals first baby cape deal of the year

Nicholas Inglessis’ Alberta Shipmanagement has made a rare sale and purchase move, snapping up its first baby cape, also the first reported baby cape sold this year. 

According to brokers, the 118,000 dwt Jubilant Devotion—a Japanese-controlled, scrubber-fitted bulker built in 2016 at Sanoyas Shipbuilding fetched $26.5m. 

It marks the second bulker deal in a row by the wet and dry player. Alberta, a 19-ship strong Greek outfit, last struck a deal late last year, turning a profit by selling the 2007-built, 203,000 dwt newcastlemax Panoramix for $28m. 

Alberta’s bulker fleet now includes two capes and six post-panamaxes, with an average age of 10 years.