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GoodBulk acquires two JP Morgan capes for $68m

GoodBulk has exercised options to acquire two capesizes from JP Morgan, with a third still on option within September, showing that chief executive John Michael Radziwill’s bullish outlook for the dry bulk market has not changed just because market conditions prompted the company to withdraw its planned US IPO a month ago. Nonetheless, the owner appears to be concerned not to overdo it, at the same time unveiling the sale of one of its two supramaxes, while keeping leverage below 30%

Bullish dry bulk owner shows strength to expand its core fleet despite IPO fizzling out a month earlier

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