Weekly Broker: Dry bulk sales fail to keep pace with the BDI

Weekly Broker: Dry bulk sales fail to keep pace with the BDI

Dry bulk rates are basking in highs not seen for nearly six years with some analysts now suggesting that they could hit the highest point of the decade in the final quarter. However, a strong Baltic Dry Index has not resulted in a significant swathe of bulkers changing hands, nor for that matter ships of any type with VesselsValue telling Splash August has been the quietest S&P month for the last six years. The price gap between what sellers are seeking and buyers are willing to offer has been too large for much of the past month with many ships taken down from the shop window.

Allied Shipbroking, Intermodal, Optima and Clarksons all reported the sale of the 2015-built panamax bulker Clipper Victory. Singapore-based Grace Ocean Investment sold the 77,200 dwt Imabari-built vessel to Greek buyers for about $20m.

Allied Shipbroking, Intermodal and Optima also listed the sale of the 2015-built 60,000 dwt ultramax bulker Bergen. Japanese owner Noma Kaiun sold the JMU-built vessel to Greek interests for $21.5m.

More than six shipbroking houses reported that Malaysian Bulk Carriers has sold its 2005-built 87,100 dwt kamsarmax bulker Alam Permai. The vessel has been acquired by Chinese buyers for a price of $10.8m.

On the tanker front, Allied Shipbroking described product tankers as continuing to hold a “protagonist role” in the S&P scene.

Allied Shipbroking, Intermodal, Optima and Clarksons all reported that UAE-based Folk Shipping sold its 2009-built 15,200 dwt chemical tanker Folk Beauty to Southeast Asian interests at an auction for an undisclosed price.

In the containership sale and purchase sector, Braemar ACM Shipbroking has seen improvements on the chartering market spurring sale and purchase activity in the panamax sector.

Braemar reported that Belgian owner Delphis sold its 2006-built 4,130 teu ship Grouse Hunter and Greek owner Performance Shipping sold its 2005-built 5,047 teu Pamina. The two vessels have all been sold to Middle East-based buyers, both in the region of $9m.

“With the charter market having moved upward again since, we expect pricing to firm in the short-term on vessels that can give relatively prompt charter free delivery,” Braemar ACM Shipbroking said.

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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