Greek shipping magnate George Economou has made a noticeable return to the sale and purchase market, taking advantage of a strengthening capesize segment to offload one of his older bulk carriers.
The vessel in question, the 2006-built Venture I, constructed at Shanghai Waigaoqiao Shipbuilding, has now been sold and renamed Cape Shanghai, with registration transferred to Talent Shipping. No sale price has been disclosed for the transaction.
This latest move comes as the capesize market has shown a clear improvement in asset values, particularly for older tonnage, creating favourable conditions for owners looking to monetise vintage vessels. George Economou has already been gradually reducing exposure to older capes over the past couple of years, suggesting a deliberate timing strategy rather than a one-off disposal.
At the same time, his wider shipping footprint remains very active across multiple segments. In the gas sector, TMS Cardiff Gas has recently returned to South Korean yards with new orders for LNG carriers, reinforcing its long-standing presence in the gas transportation market. Meanwhile, earlier in the year, the group also moved into the tanker space again with new suezmax orders placed in China.
Overall, the latest sale fits into a broader pattern: a selective recycling of older assets while maintaining strong engagement in newbuilding cycles across LNG and tanker segments, allowing the group to stay positioned across different phases of the shipping market.
