Ince Beylerbeyi reportedly sold for $22 million; buyer remains unclear with ADNOC and Midstar Shipping mentioned as possibilities.
SALE OF INCE BEYLERBEYI FOR 22 MILLION DOLLARS: BUYER NOT YET IDENTIFIED
Information regarding the sale of İnce Denizcilik’s 61,429 DWT Ultramax bulk carrier INCE BEYLERBEYI for approximately 22 million dollars has been reflected in international broker reports. However, there are three different pieces of information regarding the identity of the buyer: one source does not disclose the buyer, while others mention ADNOC and Midstar Shipping.
One of the significant buying and selling news in the Turkish maritime market today concerns the bulk carrier named INCE BEYLERBEYI from the İnce Denizcilik fleet.
In Bancosta's market report covering the week of July 14-21, it was reported that the 2012-built INCE BEYLERBEYI, with a carrying capacity of 61,429 DWT, was sold for 22 million dollars. In Bancosta's transaction table, the buyer is listed as 'undisclosed.'
Xclusiv Shipbrokers reported that the same vessel was sold to ADNOC for approximately 22 million dollars. In a sector news published today in Turkey, it was claimed that the buyer is Midstar Shipping, an agricultural commodity company based in Dubai.
Due to the discrepancies among these three records, the identity of the buyer company should not be published as confirmed information. While sources largely overlap regarding the sale price, there is a significant divergence in the buyer information.
2012 JAPANESE-BUILT ULTRAMAX
According to ClassNK records, the Singapore-flagged INCE BEYLERBEYI was built in 2012 at the Iwagi Zosen shipyard in Japan. The vessel's IMO number is 9599767, with an overall length of approximately 200 meters, a width of 32.24 meters, and a carrying capacity of 61,429 DWT. The registered owner in the class records is Beylerbeyi Shipping Pte. Ltd., while the management company is listed as İnce Denizcilik ve Ticaret A.Ş.
The term 'sold' in broker reports may not mean that the legal and technical delivery of the vessel was completed on the same day. In second-hand ship sales, agreement, sales contract, payment, physical delivery, flag change, and registry update can occur on different dates.
Therefore, the fact that the vessel still appears under the name INCE BEYLERBEYI and the Singapore flag in AIS records does not alone invalidate the sale news. Conversely, it would also be premature to write a new name, new flag, or definitive buyer before a registry change and company announcement are made.
The news in Turkey stated that following the sale, İnce Denizcilik's fleet of bulk carriers has decreased to 14 vessels and that the transaction is part of the fleet renewal process. This information should also be confirmed by the company's official fleet announcement.
Source: SeaNews Türkiye
