ID Shipping buys three former Britannia Bulk vessels

17th July 2009, 13:26
ID SHIPPING, the ship investment offshoot of Investment Group Denmark, has bought three bulk carriers formerly owned by Britannia Bulk and now controlled by the Scandinavia’s Nordea Bank and Lloyds TSB.

Managing director Allan Munk Nielsen confirmed the company was also in talks to acquire two more Britannia Bulk vessels.

He said ID Shipping had bought the 69,174 dwt 1998-built Cedar 1, the 70,029 dwt 1994-built Cedar 2 and the 43,732 dwt 1995-built Cedar 5.

Mr Nielsen added talks are also taking place to acquire the 70,003 dwt, 1993-built Cedar 3 and the 43,732 dwt, 1995-built Cedar 4.

“We may buy the two. There are some issues; nothing we have anything to do with,” he said.