Dry Cargo

Supramaxes struggle to sell

Supramaxes used to be among the easiest ships to sell on the secondhand market. No longer. Take for example the plight of the 2009-built Bulk Chile owned by Japan’s Hisafuku Kisen. The 55,000 dwt Kawasaki-built ship has just been withdrawn from sale after offers came in at around $10m, considerably lower than the $10.8m price tag VesselsValue has for this ship.

Only two supramaxes less that 10 years old have been reported sold since February. A couple of weeks back Idan Ofer-controlled Eastern Pacific Shipping was reported selling the Imabari-built, 53,000 dwt Bridgegate (2010) for $10m, a cheap price compared to the $11.54m price tag VesselsValue has attached to the ship today.

Greek outfit Soloi also sold its 2010-built 57,100 dwt Maria at the beginning of February. This ship has now been renamed Xin Hai Tong 17. The Jinling-built ship fetched $8.95m, somewhat less than the $9.38m price tag attached to it today, by VesselsValue.

Brokers have now started to circulate a pair of eight-year old Korean-built SAM Shipping supramaxes, SAM Lion and SAM Wolf, and well as a 33,000 dwt handy bulker called SAM Panther.

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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