Toisa’s kamsarmaxes expected to garner much interest

Toisa’s kamsarmaxes expected to garner much interest

S&P brokers this week will be keeping an eye out for the price levels achieved on a series of young kamsarmax bulkers.

Clarkson’s sales and purchase department was appointed last month by a US bankruptcy court to offload the Toisa fleet of 26 modern ships.

Brokers note that sales from the shrinking fleet will continue to make headlines as few candidates this young are being circulated these days.

By the end of last week three tankers were reported sold. The first sale involved the Chinese built suezmax, United Emblem, sold for about $28m, then the Japanese built aframax, United Seas for around $20m, and finally the Korean built aframax United Journey fetched $26m.

Greek owner Avin International is tipped to have pounced for two of the tankers.

This week, the market is watching closely for what level eight of Toisa’s 2016 built kamsarmaxes will sell for. The first ship sold is expected to be the United Quest. Offers were invited for this bulker at the end of last week.

Toisa, led by Greek national Gregory Callimanopulos, sought Chapter 11 protection in the US in January last year.

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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