Dry Cargo

Supramax S&P sector remains hot

The supramax S&P sector remains hot with a host of ships changing hands. Taiwan’s Ta-Tong Marine has sold the nine-year-old Honest Spring to Meghna Group from Bangladesh for a price Clarkson Research lists as in the high $11ms. The Bangladeshi commodities conglomerate bought two secondhand supramaxes in the second half of last year and remains on the look out for more tonnage, brokers tell Splash.

Elsewhere, India’s Great Eastern Shipping has paid active seller Kambara Kisen just over $9m for the 10-year-old Tenshou Maru, while undisclosed Greek buyers have paid Japan’s Toko Kisen in the high $9ms for the Sun Acapulco.

Brokers Intermodal, in a regular market report last week, maintain that secondhand supramaxes are still bargains.

“It is clear that a 10-year old Japanese supramax vessel – valued at around $10m according to the latest sale – is still very cheap compared to older sales during times when the index was at the same levels and the orderbook for the size was substantially higher,” Intermodal noted.

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.
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