Dry Cargo

Handy sales proliferate

Sales from the handy sector are filling up this week’s broking reports as the sector is seeing the highest rates in more than a decade.

Lorentzen & Stemoco’s weekly noted 31 dry sales in the past week, with more than one third in the handy sector.

A five-year-old 38,200 dwt handy is now on average worth around $19.5m, up by $5m from the beginning of the year.

Several en bloc sales have been reported this week. Chinese outfit Fortune Ocean is reported selling four five-year-old Jiangmen Nanyang-built ships for $16m each.

The most active buyer in the segment is Taylor Maritime swooping for six ships, as reported earlier by Splash.

More handy sales are expected to report over the weekend.

The handy sector has a very limited orderbook. Clarkson data shows the sector will see net fleet growth of 0.9% this year and 0.5% next year, the smallest orderbook seen in 30 years.

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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