Taiwanese shipowner Sincere Navigation has agreed to acquire a 2019-built kamsarmax bulk carrier for $38.5m, adding to its dry cargo operations as it reshapes a fleet that also includes crude tankers. Splash 247 reported that the Taipei-listed company identified fleet expansion as the purpose of the purchase, which follows a series of vessel disposals this year.
The buyer is Majestic Bloom, an indirect subsidiary wholly owned by Sincere, according to the company disclosure cited by Splash 247. It will purchase the 81,770 dwt vessel from Panama-registered MTO Maritime. Delivery is scheduled within a window running from late November to February 2027, rather than on a single fixed handover date.
Splash 247 identified the likely vessel as Babitonga, based on the seller and the specifications in the transaction. The Panama-flagged bulker was built by Tsuneishi and delivered in 2019, with a listed deadweight of exactly 81,770 tonnes. MTO Maritime’s recorded fleet also includes Babitonga among its five vessels. The report therefore points to that ship, rather than presenting its name as a confirmed detail of Sincere’s disclosure.
The planned addition comes after Sincere moved to shed older ships across its two main operating sectors. Its dry bulk disposals this year have included Chin Shan, a capesize built in 2004. The newly agreed purchase concerns a vessel built 15 years later, although the company’s stated rationale for this particular transaction is expansion.
On the tanker side, Sincere sold the 2011-built very large crude carrier Maxim to South Korea’s Sinokor in June. That followed the sale of sistership Kondor earlier in the year for $78m, Splash 247 reported.
Established in 1968, Sincere has operations spanning both dry bulk shipping and crude oil transport. Its fleet encompasses kamsarmax and capesize bulk carriers, very large ore carriers and very large crude carriers.