Hong Kong conglomerate Caravel Group has sold two Chinese-built Kamsarmax bulk carriers to a Chinese buyer in a deal valued at about $41 million.
The two vessels are the 81,073-dwt Explorer Oceania and the 81,093-dwt Explorer Asia, which were delivered in 2015 and 2016 respectively and were both built by Jiangsu Hantong Ship Heavy Industry Co., Ltd (HT).
In July 2018, Caravel acquired the two vessels from Nisshin Shipping of Japan for a total of $48.5 million.
Caravel owns Fleet Management, one of the world’s largest third party ship management companies, but also operates a dry bulk business focused on Supramax to Kamsarmax bulk carriers. With the sale of the two bulk carriers, Caravel will exit the Kamsarmax bulk carrier sector, leaving its own fleet of three Ultramax bulk carriers built by Japanese shipyards.
Data shows that Caravel’s last reported vessel acquisition was in October 2022, after which the company focused more on investing in other shipping companies. The group has now become the largest shareholder in Pacific Basin Shipping, with a stake of about 16%.