The strong momentum in the dry bulk shipping market continues to see plenty of tonnage change hands as investors rush to snap up bargains before prices start to jump.
Allied Shipbroking’s indicative dry bulk values show average prices for most bulker groups stayed at the same level in the past month, except for 10-15 year old supramax vessels.
“Strong S&P interest continued on the dry bulk sector for another week, with increasing freight rates and improving market sentiment triggering several owners to search for additions to their fleets. Interest was spread last week across the whole spectrum of sizes in this sector. With the bullish movement of earnings in mind, activity is expected to hold firm for the time being while there seems to be strong indications now being felt of an upsurge in asset prices,” Allied Shipbroking said.
Several shipbroking houses including Advanced Shipping & Trading, Seasure Shipbroking, Intermodal and Clarksons all listed the sale of the 2007-built, 180,000 dwt capesize bulker Nord Steel. According to Seasure Shipbroking, Chinese owner Minsheng Shipping bought the Japanese-built vessel from Singapore’s Singa Star for a price of $17.75m.
Multiple shipbroking houses reported that the 2011-built 57,300 dwt supramax bulker Sinar Kutai was sold by Indonesia owner Samudera to Chinese interests, while Allied Shipbroking identified the buyer as Chang Hong Shipping. The South Korean-built vessel has fetched a price of $10.5m.
Intermodal reported a deal in which Japanese owner Nikko Kisen sold its 2009-built, 31,800 dwt handy bulker Ikan Jerung. The vessel is believed to have been sold to Ed Buttery’s Taylor Maritime for a price of $9m.
“On the tanker side, a fair number of transactions were reported once again, with the oil product segment being at the center of attention. With forecasts showing demand for oil product units soaring in the final quarter of the year, it is of little surprise the increased appetite being noted. Interestingly enough, buying focus was not limited to modern units last week, depicting the much-improved confidence and optimism for strong near term earnings,” Allied Shipbroking said.
Splash has already reported an en bloc tanker S&P deal this week – Hamburg-based shipowner Chemikalien Seetransport (CST) acquiring four LR1 tankers from Expedo Ship Management for a price of around $35.8m.
Advanced Shipping & Trading, Allied Shipbroking and Banchero Costa all reported that Greek owner Tsakos Shipping and Trading sold its 1999-built, 107,200 dwt aframax tanker Olympia I for a price of $7.8m. According to Equasis information, the vessel has been renamed Woong and is now owned by Singapore’s Sea Lead Shipping.
There has been a pickup in S&P activities in the containership sector this week.
Braemar ACM Shipbroking reported that US government owned Military Sealift Command is the buyer of Fesco’s 2008-built, 1,728 teu Voronezh. The vessel has fetched a price of $8m.
According to Alphaliner, Kamchatka Shipping (KASCO), a Russian company serving Far Eastern Russia, has purchased the 2007-built ,704 teu coastal container ship Contship Ace for a price of $3.4m.
Additionally, Bismark Maritime, a domestic shipping company in Papua New Guinea (PNG), has taken a 2000-built, 508 teu multipurpose containership and renamed her Elsie under the PNG flag for an undisclosed price.