ContainersDry CargoOperationsTankers

Weekly Broker: Dry bulk finally bottoms out

The secondhand bulk sale and purchase saw a fruitful week with a large number of ships changing hands with almost all dry bulk segments showing an improvement in rates and shipowners feeling dry bulk has finally bottomed out.

“The good momentum and buying appetite now seems ‘abundant’ in the SnP market for the time being, especially when given the slight support coming from the side of earnings. Interest for dry units lacks any given direction, given the considerable number of units changing hands across all different size segments and age groups. All-in-all, as we are just few weeks away from the year’s close, we can expect this robust volume to be sustained in the near term,” Allied Shipbroking said in a recent report.

Lorentzen & Stemoco, Advanced Shipping & Trading, Intermodal and Anchor Shipbroking all listed the sale of the 2006-built 206,000 dwt capesize bulker Sen Oku. The Japanese-built vessel was sold by Japanese owner Shunzan Kaiun to Chinese buyers for $15m.

Lion Shipbroking, Intermodal and Lorentzen & Stemoco all identified Greek owner New Port Shipping as the buyer of the 2011-built 82,200 dwt kamsarmax bulker Bacco. Belgian owner Basile Aloy-led Ebe sold the vessel for $15.4m.

Both Intermodal and Lorentzen & Stemoco reported that Japan’s Mitsubishi Corporation sold its 2013-built 82,100 dwt panamax bulker Leda to Greek owner Stavros Memetis-controlled Bulkseas Marine. The Japanese-built vessel has fetched a price of $16.9m.

The tanker S&P market witnessed another week of sluggish performance, attuned with the uninspiring freight market and the situation is expected to last for the rest of the year.

Multiple shipbroking houses reported Japanese owner Mitsui OSK Lines (MOL) sold its 2003-built 300,700 dwt VLCC Selene Trader for a price of around $23.5m while Intermodal identified the buyer as Indonesian owner Soechi Lines.

Advanced Shipping & Trading, Allied Shipbroking and Lorentzen & Stemoco all listed the sale of the 2000-built 153,000 dwt suezmax tanker SRI Vishnu. The South Korean built vessel was sold to Chinese buyers for $11.5m.

The secondhand containership market continues to see plenty of concluded deals alongside another week of improvement in the chartering market.

Containerline MSC continues its buying spree with the acquisition of the 2007-built 3,091 teu Castor N from Navios Maritime Partners, according to Braemar ACM Shipbroking report. The Polish-built vessel was sold for $9m.

Intermodal, Lorentzen & Stemoco and Allied Shipbroking all reported that Uni-Asia Holdings sold its 2007-built 3,450 teu Uni Florida to UAE-based Simatech Shipping for $10m.

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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