A general firming in charter rates across the bulker sector has led to positivity across the markets. Supramax rates skyrocketed by more than 40% in the last week, crossing the $20,000 a day mark for the first time in a decade while handysizes have recorded 31 consecutive days of improving rates – a rally not seen in dry bulk since the supercycle days of 2003 to 2008.
February dry bulk spending is up an overwhelming $577m (+151%) compared to last year, according to data from VesselsValue, who noted in an email to Splash: “The cocktail of strong rates and high S&P activity has seen bulker values firm across the board.”
Allied Shipbroking, Banchero Costa, Lorentzen & Stemoco and Advanced Shipping & Trading all listed the en bloc sale of two 2010-built 80,300 dwt kamsarmax bulkers Globe Electra and Globe Danae. Greek owner Sea World Management sold the pair to compatriot Greek buyers for about $15.75m each.
Allied Shipbroking, Lorentzen & Stemoco and Intermodal all reported that Japanese owner IMECS sold its 2013-built 38,100 dwt handy bulker Indigo Silva. The Japanese-built vessel was sold to Dutch company Orient Shipping for a price of $14m.
Allied Shipbroking, Seasure Shipbroking and Banchero Costa all reported the deal in which Greek owner Load Line Marine acquired the 2011-built 32,400 dwt handy bulker Aristos II from Capital Executive Ship Management for $8.6m. The vessel has been renamed Penelope T.
Multiple shipbroking houses reported the sale of the 2016-built 61,200 dwt ultramax bulker Bulk Hero. Japanese owner Doun Kisen sold the vessel to Greek buyers for a price of around $20.5m.
It has been an interesting period for tanker S&P, levels remaining low versus last year, but prices are beginning to rise for larger tankers. This is against a backdrop of continued weak earnings for most of the sector with spot rates remaining negative and one year TC rates for VLCCs at the lowest levels seen this year. Aframax earnings have seen some positive movement this month, rising above $1,000 a day for the first time since the beginning of December, and currently at $7,500 a day.
Intermodal, Lorentzen & Stemoco and Allied Shipbroking all listed the sale of the 2010-built 50,000 dwt MR tanker Bright Fortune. Japanese owner Shoei Kisen sold the Japanese-built vessel to Velos Tankers for a price of $13.5m.
Both Advanced Shipping & Trading and Lorentzen & Stemoco reported a transaction in which Greek owner Livanos Group sold its 2002-built LR tanker Amazon Explorer to Indian buyers. The vessel has fetched a price of $13.5m.
In the secondhand containership sale and purchase market, according to Braemar ACM Shipbroking, the lack of prompt, charter free tonnage continues to push secondhand asset values ever higher with a number of negotiations ongoing at levels considerable higher than last done.
Notable recent sales include the 13-year-old, 4,506 teu Co Osaka, sold to Costamare for $20.50m and the one year older 3,398 teu Sphene, for which Greek buyers are understood to have paid $13m.