Weekly Broker: Brokers wait for owners to get off their megayachts

Weekly Broker: Brokers wait for owners to get off their megayachts

For many the beach towels have been folded away, the suntan lotion popped back on shelf; the holidays are fast coming to an end and brokers are back in hunting mode, the problem being it is hard to come across real bargains at the moment. The other problem is that while the rest of us are back slaving over our computers, the all-important principles are still swanning around the Med on their megayachts.

Splash has noted a pick up in secondhand activities this week, but brokers say there’s more inspections going on with deals actually concluded still relatively thin on the ground. “Wait for the last week of August,” one London broker advises.

According to Alibra’s weekly comment, the capesize market witnessed a sluggish start this week, but sentiment remains positive with rates continuing to improve and there has been considerable interest in the period market for panamaxes. Alibra is predicting a notable pick up in rates in the next two weeks.

Allied Shipbroking, meanwhile, noted in its most recent weekly report: “On the dry bulk side, activity levels kept at a fair pace given the fact that we are at a typically season low point in the year. What is interesting to note here is that a fair amount of the activity revolved around the larger size segments, something that makes sense given by how far their respective earnings have improved over the past couple of months. The other interesting development has been the depressed conditions noted on vessels that have been caught up by the recent Chinese import restriction, having already pushed for a downward correction on their values over the past month.”

Multiple shipbroking houses reported the sale of the 2001-built panamax bulker Alkyon. The vessel was sold by Greek owner Fafalios Shipping to Chinese interests for a price of $9.7m.

More than five shipbroking houses reported a deal in which Danish owner Clipper Group sold its 2003-built handymax bulker Clipper Valour. The 34,000 dwt ship is said to have been sold to Turkish interests for $6.2m.

“On the tankers side, limited activity was to be seen, though here to the level is respectable given the time period within the year that it has taken place and when compared to the activity volumes we have been seeing each week since the start of the year,” Allied Shipbroking said.

Banchero Costa reported the sale deal of the 2015-built VLCC Shanghai. The Chinese-built crude tanker was sold by Singapore owner GC Tankers to Greek owner Delta Tankers for a price of $51m.

The secondhand containership market saw a bit more activity this week.

According to Alphaliner, Turkish owner Arkas Line has purchased two 1,022 teu secondhand container vessels, the Reecon Whale and Reecon Emre, from compatriot owner Furtrans Denizcilik for a price of around $13.5m in total. The vessels will be renamed Vera A and Alexandra A respectively. Arkas had been chartering the two ships for operations in the Mediterranean.

Braemar ACM reported the sale of the 698 teu Ice Runner. The vessel is said to be sold by German owner Bockstiegel Reederei to undisclosed European interests at a low price of around $3m.

Jason Jiang

Jason worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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