Golden Union resumes acquisitions with Japanese post Panamax

According to Equasis data, Golden Union is the new owner of 95,349-dwt Km Hakata, a 2013-built post Panamax constructed by Imabari Shipbuilding. The vessel has already been renamed Cpt Andreadis.

The deal flew largely under the radar, as it has not been widely reported in shipbroking circles.

This marks Golden Union’s second acquisition in recent months, following a series of profitable asset disposals. Earlier this year, Riviera reported the company also added 106,349-dwt Flag Marina to its fleet – a baby Capesize built in 2010 by Oshima Shipbuilding in Japan.

Golden Union currently operates a fleet of approximately 40 bulk carriers, primarily comprising Capesize and Kamsarmax vessels. In 2024, the Greek shipping company sold at least three Newcastlemax/Capesize bulk carriers, with an average age of over 16 years, at attractive prices.

Muted activity in post Panamax segment

The post Panamax segment has seen limited sale-and-purchase activity so far in 2025. According to Allied Shipbroking’s latest weekly report, only 10 vessels of this class have changed hands year-to-date, with an average age of 14 years – a decline from the 38 transactions recorded throughout 2024.

Data from Xclusiv Shipbrokers’ monthly report indicates the global active post Panamax fleet consists of 631 vessels, with an orderbook-to-fleet ratio of approximately 9% in dwt terms – reflecting moderate growth expectations in the segment.