Weekly Broker: Deals pick up pace

Weekly Broker: Deals pick up pace

The overall firm performance of the dry bulk shipping sector has continued to strengthen investor confidence in the secondhand bulker market, which has resulted in a continued flow in S&P activities.

“On the dry bulk side, activity seemed to have picked up this past week, with the focus having been firmly placed on the smaller size segments, namely the supramax and handysize group. At the same time it looks as though the number of sales candidates has increased considerably, something that may well put pressure on prices over the coming weeks,” Allied Shipbroking said in its latest weekly report.

Multiple shipbroking houses reported the sale of the 2009-built capesize bulk carrier Sonia. South Korea’s Korea Line is said to have taken over the vessel for a firm price of $26m amid a firming charter market with tight tonnage lists in both the Atlantic and the Pacific.

Intermodal and Allied Shipbroking linked Japanese owner Inui Global as the buyer behind the sale of the 2011-built handymax bulker Santa Vista. The 38,206 dwt was sold by JX Ocean for $14.5m.

More than five shipbroking houses listed the sale of the 2011-built supramax bulker Suprastar. The vessel is said to have been sold by French owner Unishipping to Greek buyers for a price of $11.8m.

Additionally, the sale of the 2010-built handymax bulker Conqueror is listed by many shipbrokers. The 32,000 dwt vessel has been sold to an undisclosed party for $8.2m.

The secondhand tanker S&P market has seen a continued good volume of activities the past week amid a rebound in both aframax and MR tanker rates.

According to Weber’s weekly tanker report, the Caribbean aframax softened modestly early during the week but a strong run in demand saw rates rebound by the close of the week, and further gains could materialize at the start of the upcoming week subject to the extent of fresh availability and demand levels. Meanwhile, rates in the US Gulf MR market strengthened this week on a narrowing of fundamentals, which owners were able to capitalise upon this week as the pace of demand held up.

Advanced Shipping & Trading reported that Greek family Vardinoyannis owned Avin International has taken over two tankers from bankrupt Toisa via auctions. The 2008-built aframax tanker United Seas was sold for $18.5m while the 2010-built LR2 tanker United Emblem was sold for $26.1m. Many more of the Toisa fleet are being offloaded this week and next with Clarkson the selected broker to sell the fleet.

Seasure Shipbroking and Lorentzen & Stemoco both reported a deal in which UAE owner Warm Seas acquired 2004-built MR tanker Seaways Alcmar from US owner International Seaways. The 46,000 dwt tanker has fetched a price of $10.7m.

Shipbroking houses including Allied Shipbroking, Advanced Shipping & Trading and Banchero Costa all listed the en bloc sale of two 2009-built tankers. Greek owner Kassidokostas Latsis’s Latsco Shipping is said to have acquired the two aframax tankers Aegea and Amorea from compatriot owner Chandris for a price of $23m per unit.

“On the tanker side, the increased activity continued on for yet another week, with deals being noted across almost all the size segments. The VLs were the only size to miss out this week, however given the circulating rumors, it looks as though we may well have a couple of transactions emerge over the coming days. It does seem as though buying interest is there, despite still facing a sharp gap between sellers’ and buyers’ price ideas. At the same time, it is notable to point out that prices from recent transactions seem to be holding fairly in line with what has been seen from last done transactions,” Allied Shipbroking said.

Lastly, the sale and purchase activities in the secondhand containership sector remain limited. Allied Shipbroking identified fast growing boxship operator MPC Container Ships as the buyer of the 2008-built feedermax Melbourne Strait. The 1,794 teu vessel was sold by German owner Rehder Carsten for $8.3m.

Alphaliner, meanwhile, reported the acquisition by MSC of two 6,966 teu sisterships, the Texas and Washington, from Andreas Papathomas’s Synergy Management. No price has been revealed. Both ships had been on charter to MSC and are now expected to be renamed to traditional names with a MSC prefix.

“There is still a distinct lack of tonnage workable in the market today at what many buyers see as attractive levels. One interesting vessel in the market is the NYK Terra (6,600 teu, built 2008), which was marketed last week from Singapore-based owners. It will be interesting to see what this vessel achieves in a market where, although rates remain relatively firm, buyers price ideas could well differentiate from sellers expectations,” Braemar ACM Shipbroking said in its weekly container briefing.

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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