Weekly Broker: Dry bulk appetite returns

Weekly Broker: Dry bulk appetite returns

After a fortnight of limited done deals in the secondhand sale and purchase market in line with cooling charter rates, this issue of Weekly Broker roars back with a feast of concluded transactions led by the dry bulk sector.

“On the dry bulk side, it looks as though the market showed a bit more spark this week, with activity levels increasing considerably compared to what we were seeing one week prior. The focus how- ever in terms of size and age profiles sought out by buyers seems to still be relatively unchanged, with the large majority of concluded deals centering around the supramax and panamax size segments. We have yet to see any interesting moves in terms of pricing, though the upward pressure is still very much present,” Allied Shipbroking said in its latest weekly report.

As reported by Splash earlier this week, several shipbroking houses including Lorentzen & Stemoco, Allied Shipbroking and Seasure Shipbroking all reported a deal in which the 2005-built panamax bulker Dr Bravo was sold to Greek owner Omicron Ship Management. The 76,800 dwt vessel has fetched a price of $12.6m. Omicron recently sold its only China-built bulker Omicron Way to an undisclosed buyer. Including the latest acquisition, Omicron’s fleet now comprises five Japanese-built bulkers.

More than five shipbrokers listed the sale of the 2011-built supramax Ten Yoshi Maru. Thai owner Thoresen Thai acquired the 58,100 dwt vessel from Japanese owner Kambara Kisen for $16.3m.

Allied Shipbroking reported that CDB Leasing, the financial leasing arm of China’s policy bank China Development Bank, has taken over of two newbuildings from bankrupt shipyard Sanity Marine for $23.3m each. The two vessels (SAM 14021B, SAM 14022B) have been chartered to Beibu Gulf Shipping, the shipping subsidiary of Guangxi Beibu Gulf Port Group. Beibu Guf Shipping has been expanding its chartering fleet recently, having completed a financial leasing deal of five newcastlemax newbuilds with CDB Leasing in March.

Additionally, Allied Shipbroking linked the sale of two handysize bulkers with Hong Kong-based Taylor Maritime. The company is said to have acquired the 2010-built handysize bulker New Izumo from Japan’s Kyowa Sansho for $12.7m and the 2010-built handysize Elliott Bay from Japan’s Yamamaru Kisen for $11m.

With continued depressed freight rates, activity in the tanker sale and purchase market remains limited and there was very limited deals to report this week.

In the products sector, Clarkson has heard rumours that the 2009-built tanker High Enterprise and the 2009-built Silver Express have been tied up on subjects to Asian buyers at a price in the region of $16.5m.

For containers, owners appear to have stepped back from the secondhand arena for the moment.

Instead, containership owners appear to be in dialogue with yards in Asia with most broking reports in the past week noting how boxship orders are dominating the newbuild scene this month. Nevertheless, Splash understands a number of boxship S&P deals are on the bubble, with charter rates for smaller tonnage remaining hot. 

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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