Dry CargoOperationsTankers

Weekly Broker: Dry bulk on the run

The decent transaction flow in the second hand bulker sale and purchase market continued for another week with the rates in the chartering market firming up. The extended optimism in the dry bulk market is expected to keep the S&P market busy for a while.

“On the dry bulk side, the relatively good momentum in the SnP market continued for yet another week, with both the activity being noted and buying appetite seemingly re-emerging at a fast pace. As of the past week, we experienced a good flow of transactions in the bigger size segments too and for more modern units, helped to some degree at least by the strong upward trend noted in freight rates during the same time frame. All-in-all, with a far more bullish attitude currently being portrayed in terms of forward returns, we can expect things to ramp up further in the near-term,” Allied Shipbroking said in its weekly report.

Splash has already reported a deal in which Greek owner Carras Hellas sold its 2003-built 171,015 dwt Aquaglory to China’s Jiangsu Steamship for a price of $9m.

Likewise Splash reported earlier this week that Greek owner Alpha Bulkers sold its 2000-built 170,000 dwt capesize bulker Alpha Era to Chinese owner Fujian Ocean Shipping. The Japanese-built vessel has fetched a price of $7.5m.

Multiple shipbroking houses including Clarksons, Advanced Shipping & Trading, Allied Shipbroking and Lorentzen & Stemoco all listed the sale of the 2010-Chinese-built 93,300 dwt post panamax bulker LM Victoria. Bahamas-based Liberty Maritime International sold the vessel to Chinese buyers for $9.2m.

Seasure Shipbroking, Banchero Costa and Advanced Shipping & Trading reported that Swiss owner Massoel Meridian sold its 2003-built 20,000 dwt handy bulker Lugano to Lebanese buyers for $2.4m.

“On the tanker side, total activity noted seems to be on a softening path as of the past few weeks, given the relatively mediocre number of vessels changing hands. Whether this is circumstantial or a new trend remains to be seen. Notwithstanding this, given the recent positive spikes in freight earnings, we can expect a vivid sales market once more,” Allied Shipbroking said.

Both Allied Shipbroking and Lorentzen & Stemoco reported the en bloc sale of two 105,000 dwt aframax tankers by Greek owner Minerva Marine. The 2001-built Minerva Astra and 2002-built Minerva Zenia have been sold to Middle Eastern buyers for $11.7m and $12.3m respectively.

More than six shipbroking houses reported the sale of the 1999-built 105,000 dwt aframax tanker Seadance. Greek owner Eastern Mediterranean sold the South Korean-built vessel to Middle Eastern interests for $9.5m.

There has been no deals to report in the secondhand containership sale and purchase market this week, however, according to Braemar ACM Shipbroking, there are a number of ongoing discussions with several feeder ships being committed on subjects.

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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