Valles departs dry bulk

One of Hong Kong’s most prominent dynastic shipping companies, Valles Steamship has offloaded its last dry bulker, the panama ship, Silver Dragon for US$8.2m. The sale comes just five months after the sister ship, Silver Phoenix for US$9.5m, which might indicate at least one reason why Valles is now a pure tanker company, for the time being at least.

Managing director, David Koo, remarked on the current demise of the dry bulk fleet: “For the time being, after our last bulker has been delivered to buyers, we will no longer own a bulker fleet.

“As you know situation changes from time to time, if the opportunity is right, then we might consider re-entering. Right now, we have no intention.”

The company continues to own and operate nine aframaxes and three handysize tankers, according to data from VesselsValue.

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