Chandris switches kamsarmax order to two aframaxes

Chandris switches kamsarmax order to two aframaxes

The low dry bulk market has prompted Chandris (Hellas) to change its order for kamsarmaxes at Cosco Dalian shipyard to two 113,000-dwt aframax tankers.

Two 81,600-dwt bulkers were originally scheduled for delivery in 2016. However, the first kamsarmax vessel was cancelled and the second was changed to a tanker, Chandris told Splash by phone today.

The first aframax is scheduled for delivery in November 2017, the second is set to arrive in March 2018. Both vessels will be 250 metres long.

The Greek company placed its tanker order with the yard in September. No further options were attached.

The news comes at a time when aframax vessels are appreciating in value, according to research by VesselsValue.com (VV). The online platform looked at aframaxes purchased between January 1, 2012 and October 19, 2015 and compared each vessel’s purchase price with its VV estimated market value (as of October 19).

Shipowners Viken MOL, KNOT Offshore Partners and Zodiac Maritime would stand to make the most money if selling their aframaxes today for their estimated market value (see diagram), the VV research found.

The owners who would stand to make the most money, VV research says. [Image: VesselsValue.com]

Click to enlarge: The owners who would stand to make the most money, VV says. [Image: VesselsValue.com]

Holly Birkett

Holly is Splash's Online Editor and correspondent for the UK and Mediterranean. She has been a maritime journalist since 2010, and has written for and edited several trade publications. She is currently studying for membership of the Institute of Chartered Shipbrokers. In 2013, Holly won the Seahorse Club's Social Media Journalist of the Year award. She is currently based in London.

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