Weekly Broker: Asians lead the way

Weekly Broker: Asians lead the way

Following a temporary slowdown earlier this month, the sale and purchase market has been gradually warming up again with optimism in both the bulk and tanker markets plain to see. It has been Asian buyers who have led the way in the past few days with Europeans expected to get their chequebooks out more seriously from next week onwards.

“The dry bulk market seems to have gone through the summer season peak without running out of considerable steam and with last week bringing along – substantial in some cases – gains across the board. The positive reversal in spot earnings has almost immediately filtered through to the period market, with a pick up in both activity and rate ideas reflecting the improved environment, while focus remained on shorter periods for yet another week,” Intermodal said in its report.

Intermodal, Lorentzen & Stemoco and Advanced Shipping & Trading all listed an en bloc deal in which CDB Leasing, the leasing arm of China Development Bank, acquired four 79,000 dwt kamsarmax bulkers – the 2011-built Grand Alma, Grand Amanda and the 2012-built Grand Annabelle and Grand Marcia from HNA-controlled Grand China Logistics for an undisclosed price. The four vessels have been bareboat chartered to Shanghai Steel.

Advanced Shipping & Trading and Intermodal identified Chinese leasing house Minsheng Financial Leasing as the buyer of the 2015 Japanese-built, 81,000 dwt kamsarmax bulker Key Pacifico. Japanese owner Yamamaru Kisen sold the vessel for a price around $24m.

Intermodal reported that Japanese owner Nippon Yusen Kaisha sold its 2000-built post panamax bulker Lily Fortune to Chinese buyers. The 91,400 dwt vessel has fetched a price of $7m.

On the tanker side, there has been a noticeable pick up for VLCCs – trading above $40,000 a day in some cases this week, which has also filtered down to the suezmax sector.

Splash has already reported a deal this week in which Italian owner Amoretti Armatori Group purchased two handysize tankers, the 2013-built Alice and sistership 2012-built Ami from Swedish owner Rederi AB Gotland for $40m en bloc.

Intermodal and Banchero Costa both reported that Greek owner Centrofin sold two 2000-built 299,000 dwt sister VLCCs – Kalymnos and Cerigo to undisclosed buyers for conversion, at price of of $25m each.

Intermodal also reported that Centrofin has acquired the 2009 Chinese-built MR2 tanker FPMC 19 from Taiwanese owner Formosa Plastics. The 46,800 dwt ship fetched a price of $11.3m and it is the fourth tanker Centrofin has acquired from Formosa Plastics this year, having bought FPMC P Eagle, FPMC P Fortune and FPMC P Glory.

There have been no containership sale and purchases deals concluded in the past week.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.

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