News / Sinokor makes 700%+ profit on sale of panamax quartet to MSC

Baltic Bridge Credit Sarah Huang.

Sinokor Merchant Marine is said to have sold four panamax box ships to MSC for $350m, earning more than a seven-fold profit.

Brokers said that at the end of January, MSC bought the 2005-built 7,471 teu Baltic Bridge, 2010-built 4,432 teu Baltic South, 2006-built 4,298 teu North Bridge and 2002-built 4,253 teu Singapore Bridge.

Sinokor, South Korea’s largest non-listed shipowner, operates in intra-Asia lanes and tends to deploy feeder and sub-panamax vessels. Where larger boxships are concerned, it is active as a tonnage provider, ...