Precious Shipping Accelerates Fleet Renewal with Supramax Sale and Ultramax Delivery

## Precious Shipping Accelerates Fleet Renewal with Supramax Sale and Ultramax Delivery Bangkok-listed dry bulk owner Precious Shipping is continuing its fleet refresh strategy at pace, executing a simultaneous vessel sale and newbuilding delivery that underscores the company's commitment to replacing older tonnage with modern, fuel-efficient assets. According to Splash247, the Khalid Hashim-led company has sold the 2011-built, 56,920 dwt supramax *Kanchana* for approximately $14.5 million. The disposal comes on the same day the Thai owner took delivery of a new ultramax from a Chinese shipyard, marking a significant milestone in its ongoing fleet renewal drive. ### Strategic Rationale The back-to-back transaction reflects a broader trend among dry bulk operators seeking to shed older, less efficient tonnage in favour of larger, more fuel-economical ultramax vessels. Ultramaxes — typically ranging from 60,000 to 65,000 dwt — offer improved cargo capacity and lower emissions profiles compared to older supramax designs, making them increasingly attractive as environmental regulations tighten across the industry. For Precious Shipping, the move aligns with a disciplined capital recycling approach that has characterised the company's asset management strategy in recent years. By monetising ageing vessels while they retain meaningful market value, the company is able to fund newbuilding acquisitions without overstretching its balance sheet. ### Market Context The secondhand dry bulk market has remained relatively active, with owners taking advantage of firm asset values to execute fleet renewal programmes. The $14.5 million achieved for the 2011-built supramax reflects the sustained demand for quality secondhand tonnage, even as buyers increasingly scrutinise the age and efficiency credentials of prospective acquisitions. Precious Shipping's strategy of replacing supramax-class vessels with ultramaxes is consistent with industry-wide fleet evolution, as charterers and cargo owners place growing emphasis on vessel efficiency and environmental compliance when selecting tonnage. The company's continued investment in modern tonnage positions it competitively within the global dry bulk sector as the industry navigates evolving regulatory requirements, including the International Maritime Organization's Carbon Intensity Indicator (CII) ratings framework. *Source: Splash247*