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Weekly Broker: Supramaxes top interest

Weekly Broker: Supramaxes top interest

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This Thursday in our regular weekly filleting of broker S&P reports Splash has seen a steady batch of deals coming to both the dry bulk and container secondhand markets, with activities mainly focused on the supramax and panamax sizes.

“On the price aspect of these deals, it seems as though further gains are made inch by inch with limited appetite for any significant price rises despite the still strong amount of competition amongst buyers and the sharp improvement in earnings. It seems as though most still feel that there is limited room for further price gains to be had right now,” Allied Shipbroker said in its latest report.

Shipbroker Intermodal has also seen strong momentum in the dry bulk sale and purchase market for the past week, evidencing the increased interest among interested parties, while Greek and Chinese owners have nearly monopolised all action.

Shipbroking houses Lion Shipbrokers, Lorentzen & Stemoco and Andreas J. Zachariassen all reported the sale of 2008-built supramax bulker Tenmyo Maru to a Greek owner for $13.8m. VesselsValue has identified the buyer as Ismini Panayiotides-led Pavimar, an owner repeatedly making S&P headlines this year.

Multiple broking sources have reported the sale of the 2008-built 169,200 dwt bulker Mediterranean Trader from Sinokor Merchant Marine to Greece’s Cyprus Sea Lines. The vessel has fetched a price of $17.8m, which allowed the South Korea owner to make a quick profit of $3.3m in one year’s time as the company acquired the vessel for $14.5m in September 2016.

On the container side, Lion Shipbrokers and Intermodal both had details of an en bloc deal for two 2,478 teu containerships, the 2006-built Frisia Hannover and the 2005-built Frisia Loga. New Danish outfit Navigare Capital Partners has taken the two ships for $9.35m each and both ships have been fixed to Maersk under a time charter deal.

Zachariassen also linked Greek owner Poseidon Container Holdings with an en bloc purchase deal of seven Korean and Japanese built post-panamax container vessels from Diana Containerships. The German broker said the deal is still under longer subjects.

“The tanker market, which has been very active in the past two-to-three weeks, has become a little bit quieter again. Dropping prices might have been the reason that a few have reconsidered to sell,” Zachariassen noted in its weekly report.

Multiple broking houses reported a deal in which South Korea’s Sunwoo Tanker acquired a 2001-built 12,500 dwt tanker Oriental Wisteria from compatriot company Dong Jin Shipping for $7.8m.

Lastly, Clarkson reported that Japan’s Libera Group has concluded a deal to acquire the remaining five 5,195 ceu car carriers Canopus Leader, Morning Ninni, Morning Margareta, Lord Vishnu and Polaris Leader from bankrupt compatriot United Ocean at an undisclosed price.

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Jason Jiang

Jason worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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