Lauritzen Bulkers has made the 176,371-dwt MV Corona Bulker (built 2011) available for inspection in Rizhao, China. The last reported equivalent capesize sale was that of the Geomax Sands (built 2011) which was sold to John Fredriksen last month for $27.2m. Lauritzen Bulkers last week disclosed that the charter parties on the 179,000-dwt Churchill Bulker (built 2011) and Corona Bulker had been cancelled.Lauritzen Bulkers said a deal had been reached with the unnamed charterer that will see the Lauritzen Bulkers receive compensation payable during 2015-17.
Lauritzen Bulkers said the cancellation would have a negative impact on its 2015 result to the tune of $30 to $35m primarily due to the write down of the vessels. Late last year Lauritzen Bulkers sold two of its four capesize bulkers following the collapse of STX Pan Ocean which had the ships on long-term charters. A month earlier the Copenhagen-based Lauritzen Bulkers had sold the 179,000-dwt Camilla Bulker (built 2009) for $40.5m.
Last October, Peter Borup, president of Lauritzen Bulkers, confirmed that the company's plan to exit the sector. "We don't want to be in capesizes," he said, explaining he would rather have the capital to deploy in the core supramax and handysize segments. Peter Borup explained the company lacked the scale in the capesize market to operate successfully on a spot basis.