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BW Dry Cargo buys seventh ship in six months

Six months after its startup, BW Dry Cargo, headed by CEO Christian Bonfils, has just purchased its seventh vessel and expanded staff at the Danish headquarters. The goal is to buy more vessels built in Japan, but prices have started going up, Bonfils tells ShippingWatch.

Photo: First Arctic

The number of financially well-padded players seizing the opportunity to make a good bargain on top of the worst dry bulk crisis ever is increasing. Brokers with whom ShippingWatch has spoken report significant activity among especially Greek buyers, and further north a new Norwegian duo has recently popped up, consisting of Arne Blystad and Herman Billung, looking to purchase bulk vessels.

We pay a premium but we think that we would make this back if we sell, and it would also be easier to divest a Japanese vessel than a Chinese ship

Christian Bonfils, CEO of BW Dry Cargo

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