Buyers from last week’s bulker sales are emerging, with Thailand’s Precious Shipping stepping in aggressively — outbidding rivals with just under $66m for its youngest ships to date. 

The Bangkok-listed owner is closing in on two Japanese-built ultramaxes, the Jal Kalpavriksh and Jal Kalpataru (66,000 dwt, built 2021, Mitsui, Japan), from Jaldhi Overseas. The en bloc deal, at close to $33m apiece, sets fresh benchmarks in the segment. 

This marks Precious’ third modern purchase this year. Back in April, it acquired a same-aged, Chinese-built unit from Western Bulk for around $4m less. 

The latest move reaffirms the ultramax sector as the most liquid and active corner of today’s dry bulk market, with modern Japanese tonnage continuing to command firm premiums. 

Following delivery of the two ships, Precious will count 11 ultramaxes, eight supramaxes and 23 handysize vessels, giving the Bangkok-based company a healthy average fleet age of about 10 years.