Zhejiang Shipping Group is pushing further into the capesize segment, with broker sources telling Splash that the Chinese owner has acquired a second large bulker under Zhejiang Shipping Singapore, its wholly owned subsidiary.

Earlier this year, the company made headlines with its first newcastlemax bulk carrier, the 2019-built, 210,000 dwt ZH Dampier.

Now, broker sources tell Splash that Zhejiang has quietly added another cape: the 2012-built Densa Shark, just renamed ZH Hangzhou, a 179,200 dwt vessel. According to VesselValue, the ship was sold for $32.5m, including a six-month time charter at an undisclosed rate.

The pricing platform currently assesses the Hyundai Heavy-built bulker’s market value close to $39m. The deal marks Zhejiang Shipping’s latest move into the larger dry bulk arena, adding to its group’s fleet of some 50 vessels, predominantly medium-sized bulkers.

For Turkish owner Marinsa Shipping, the completed transaction signals an exit from the capesize market. The Istanbul-based company, however, continues to maintain a sizeable presence in the broader bulker sector.