Smaller dry cargo vessels are outperforming bigger capesizes, boosted by rising trade in minor bulks such as cement, grain and fertilizer.

Rising rates for panamax vessels have prompted companies to look at buying more smaller vessels. Following are some acquisitions of panamax, handymax and handysize vessels so far this year:

  • Genco Shipping & Trading Ltd says to buy 16 supramax vessels from Setaf SAS, a unit of Bourbon SA, for about $545 million.
  • Genco to buy 5 handysize vessels from Metrostar companies for about $166.3 million. and Genco-managed Baltic Trading Ltd to buy 3 35,000-deadweight-ton vessels for about $99.8 million from Metrostar companies.
  • Paragon Shipping in shipbuilding contracts with a Chinese shipyard for 2 kamsarmax and 2 handysize drybulk vessels.
  • Paragon to buy a panamax bulk carrier for $41 million.