Dry Cargo

Japanese supramax prices up 20% this year

The extraordinary appetite for Japanese-built supramax tonnage seen this year has already seen prices jump by around a fifth.

According to brokers Intermodal, depending on the condition of the vessel and its respective surveys position, the appreciation in Japanese supramax vessels since the beginning of the year is calculated at around 20%.

Since the start of the year Intermodal has tallied around 230 secondhand sales in the dry bulk sector, , while newbuilding contracting has also seen steady numbers.

Out of those 230 bulkers that changed hands during the past months, 100 where built in China. Most of the buying interest focused on handysize up to ultramax tonnage, with this deadweight range counting 160 sales.

Intermodal said in its latest weekly report that it is anticipating this bulker buying binge to continue throughout the summer.

Last year was an all time record for the S&P markets, led again by dry bulk acquisitions.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
Back to top button