Weekly Broker: Dry bulk pause

Weekly Broker: Dry bulk pause

Following two strong weeks in the secondhand bulker sale and purchase market, the activities were slightly subdued in the past few days with many deals believed to be close to fruition. Meanwhile, activities in the secondhand tanker S&P sector has seen a surge following weeks of depression.

“On the dry bulk side, with the exception of a couple of enbloc deals, the volume of activity was slightly subdued compared to the average noted these past couple of months. At the same time there was little to talk about with regards to the deals that did emerge, as in most cases the prices were indicative with what we have been seeing over the past couple of weeks,” Allied Shipbroking said in its latest weekly report.

Allied Shipbroking reported a deal in which Swiss owner Nova Marine Carriers has bought the 2015-built handymax bulker Western Baltic from Japanese owner Nisshin Shipping. The 38,800 dwt vessel was sold for $17.8m.

Both Clarkson and Banchero Costa listed the sale of the 2013-built handy bulker PPS Ambition. Dutch owner Orient Shipping is understood to have taken over the vessel from Japan’s Mitsui & Co for $15.5m.

“On the tanker side, this week saw a sudden surge in activity, temporary breaking the sluggish pace that has characterized this market sector over the past year or so. This recent splurge extended over all the size segments, while in terms of prices reported we are still seeing levels hold for the time being. For the moment this looks to be a temporary blip and not characteristic of the volume we will continue to see over the coming weeks, though we may well be in the midst of a market shift,” Allied Shipbroking said.

Several shipbroking houses including Allied Shipbroking, Advanced Shipping & Trading and Banchero Costa have all identified Belgium owner Euronav as the buyer of the 2003-built VLCC Seaways Laura Lynn. The company acquired the 441,600 dwt from US owner International Seaways for a price of $32.5m.

Banchero Costa, Lorentzen & Stemoco and Advanced Shipping & Trading all reported a deal in which Indian owner Great Eastern Shipping is said to have acquired the 2010-built aframax tanker United Journey from UK owner Trade and Transport. The 112,800 dwt vessel has fetched a price of $26.1m.

More than five shipbroking houses reported the en bloc sale of two 2009-built MR tankers, Marianne Kirk and Anja Kirk. The Danish owner acquired the two vessels from compatriot investment firm Kirk Kapital for $18.75m each. Splash reported the deal earlier this week.

On the smaller size, the 2003-built MR1 tanker Cape Bird was reported sold to an undisclosed buyer by shipbroking firms at $8.3m.

The secondhand containership sale and purchase has again seen limited activities this week.

Clarkson and Allied Shipbroking listed a transaction in which Mediterranean Shipping Company (MSC) has taken over two 2009-built post panamax boxships Washington and Texas from Nautilus Holdings for an undisclosed price.

Additionally, Clarkson and Lorentzen & Stemoco reported that the 2002-built feedermax Sandy Rickmers has been sold to Greek owner Conbulk Shipping for $5.15m.

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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