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Weekly Broker: Boxship sales soar

The dry bulk market is seeing a slight and slow recovery and upward trend in the past week, particularly in the larger size segment, where the optimism continues to grow for the outlook for the rest of the year, which has also boosted investor confidence in the sale and purchase market. Concluded sales volumes were down this week however on account of the Greek Easter holiday and the May Day public holiday across much of the world. The one exception was in the container market, where confirmed sales leapt.

According to Alibra’s weekly report, the capesize period market has continued to improve this week and the boost in spot rates has further reinforced the sentiment that the market is now beginning to recover, while demand volumes in the kamsarmax and panamax sectors remain healthy, particularly in the Pacific with one-year rates estimated at $11,500 per day.

This week, Splash already reported an en bloc deal in which Chinese dry bulk owner Jinhui Shipping acquired a pair of supramax bulkers Aigeorgis and Aifanouris from Greek owner Chartworld Shipping for $12m in total.

Multiple shipbroking houses listed an en bloc resale of two newbuilding ultramax bulkers. Shanghai-based HTM Shipping has sold the two 63,000 dwt vessels Golden River and Golden Bridge to Mingsheng Financial Leasing for $22.5m each under a sale and leaseback arrangement. The vessels are set be delivered by Nantong Xiangyu Shipbuilding in May.

Advanced Shipping & Trading, Clarksons and Andreas J. Zachariassen listed the sale of the 2001-built 76,300 dwt panamax bulker Pontovremon. Greek owner Ocean Freighters sold the Japanese-built vessel to Chinese interests for over $7m. Equasis data shows that the vessel has been renamed Asia Spring, and is now owned by New United Dalian Marine.

More than five shipbroking houses reported the sale of the 2007-built 53,000 dwt supramax bulker Bulk Paraiso. The Japanese-built vessel has been sold by Japanese owner Daiichi Kisen for $10.5m to Indonesia’s Lumoso Pratama Line, the dry bulk arm of local box shipping outfit, Tanto Intim Line. Active Lumoso has added seven supramaxes to its fleet since 2015.

On the tanker chartering market, according to Banchero Costa, the crude tanker market remained soft in general this week. Tanker sale and purchase deals have been executed largely through en bloc acquisitions in recent days.

Adavnced Shipping & Trading, Banchero Costa and Lorentzen & Stemoco all reported the en bloc sale of two newbuild VLCCs Diyala and Ninawa. Greek owner Thenamaris sold the two 318,000 dwt tankers, delivered by Samsung Heavy Industries in April, to BW Group for $88m each.

Andreas J. Zachariassen reported Bergen-headquartered Odfjell has sold a pair of 2004-built, 9,900 dwt sister chemcial tankers, Bow Asia and Bow Singapore, to undisclosed interests for $13m in total.

The secondhand containership sale and purchase sector has seen a pick up in completed sales over the past week.

According to Braemar ACM Shipbroking, after being redelivered early from charter, a number of vessels, previously operated by Kawasaki Kisen Kaisha (K Line) were committed to different buyers from the Japanese market in the panamax segment. Amongst those sold were the 2005-built 4,800 teu Vecchio Bridge to Singapore-based buyers and the 2009-built 4,255 teu Ambassador Bridge to northern European buyers.

Additionally a Korea-based buyer was linked to five units owned by Doun Kisen including the 2009-built 4,300 teu Astoria Bridge, the 2010-built 4,500 teu Baltimore Bridge, the 2011-built 4,432 teu Brussels Bridge, the 2005-built 4,738 teu Venice Bridge and the 2009-built 4,300 teu Athens Bridge.

Andreas J. Zachariassen reported that US-based investment firm, EnTrust Global, has paid a combined $150m for two 2012-built 13,100 teu boxships, Hyundai Honour and Hyundai Respect.

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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