Vietnam’s Hoanh Son remains on a panamax charge

Qatari owner S’hail Shipping has made a decent profit on a rusty panamax sale to the fast-growing Hoanh Son Group

S’hail has sold the 18-year-old panamax S’hail Al Dukhan to the Vietnamese infrastructure conglomerate. No price is attached to the deal, but VesselsValue indicates that the Namura-built ship is worth just under $12m. S’hail added it for just $8.3m in 2019.

Nine-ship-strong Hoanh Son Group has added six similar-sized bulkers since February 2023, with its last purchase sealed in January when it tabled $9.2m for the 2004-built Navios Orbiter panamax.