Dry Cargo

Bulker S&P picks up

This week’s broking reports suggest modern bulkers are now changing hands at a growing pace.

Triggered by stable freight rates and fear of inflation buyers and sellers have found common cause to hatch deals.

Rebecca Galanopoulos Jones, who has recently moved from brokers Alibra to VesselsValue, noted in an S&P update yesterday: “Bulker values are now beginning to stabilise. Since the beginning of October, values have turned a corner and have begun to show signs of improvement.”

Bulk Trading Group (BTG), a joint venture between Kristian Gerhard Jebsen Group, JP Morgan, Berge Bulk and Mitsui, is reported selling the 2015-built Japan Marine United-built kamsarmax bulk carrier, BTG Denali, for $35.5m, $100,000 less than it was willing to let go of its sister ship in May.

One buyer is identified, Newport, tipped by some brokers to have tabled just under $30m for the five-year-old 81,700 dwt Bulk Holland, a ship sold by OMC Shipping, an affiliate of the Japanese trading house Mitsui.

Finally in the smaller segments, James Marshall-led Berge Bulk is also widely reported selling a two-year-old ultramax, the 61,000 dwt Berge Tronador for $32.5m, deemed a firm price by brokers.

Hans Thaulow

Hans Henrik Thaulow is an Oslo-based journalist who has been covering the shipping industry for the last 15 years. As well as some work for the Informa Group, Hans was the China correspondent for TradeWinds. He also contributes to Maritime CEO magazine. Hans’ shipping background extends to working as a shipbroker trainee with Simpson, Spence & Young in Hong Kong.
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