NSC Schifffahrtsgesellschaft sells four post-panamax bulk carriers

NSC Schifffahrtsgesellschaft sells four post-panamax bulk carriers

Germany’s NSC Schifffahrtsgesellschaft has sold four post-panamax bulk carriers to unnamed European buyers for a combined price of $41.1m, according to brokers.

The 93,000-dwt vessels Tango Sea, Tonda Sea, Tana Sea (all built 2011) and Tonic Sea (built 2012) were all reported sold for $9.5m each.

A 2011-built vessel of the same tonnage (Umberto d’Amato) changed hands for $14.8m in August last year, showing just how far prices have fallen in the space of a year.

The most recent sale and purchase (S&P) estimates by the Baltic Exchange show the values of five-year-old capesize and panamax bulk carriers built at a “first-class competitive yard” are respectively 27% and and 22% below assessments made a year ago.

Baltic panellists assessed the value of the 180,000-dwt capesize benchmark vessel at $23.69m on Monday, some way below the assessment of $32.52m on September 7 last year.

Similarly, the 74,000-dwt panamax benchmark was valued at $13.73m on Monday, compared to $17.53m a year ago.

NSC Schifffahrtsgesellschaft’s fleet of bulk carriers now comprises just four open-hatch supramaxes. The rest of the Hamburg-based company’s fleet is dominated by 31 containerships, plus some small tankers and a couple of car carriers.

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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