Zhejiang Energy Marine, a subsidiary of Zhejiang Energy Group, has entered the capesize segment.

The outfit, better known for its global footprint in scrubber supply as well as shipyard and retrofit services, is moving into unfamiliar territory, laying the winning bid for the Cape Providence (179,600 dwt, built 2009 at Daewoo), a ship sold by Greek owner Golden Union. 

The vessel was reported to have been sold twice in the final quarter. In November, brokers reported the ship sold for $26.2m. By year-end, sources said a winning bid of around around $28m was secured, underscoring the sharply rising curve in secondhand capesize values. 

The deal marks the second Zhejiang-based entrant into the capesize segment this year. Zhejiang Shipping Group recently took delivery of its first newcastlemax bulker. The 2019-built, 210,000 dwt ZH Dampier became the group’s first newcastlemax following its restructuring.