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Weekly Broker: Feeder boxship bargains roar back into contention

In the past week, dry bulk sales continue to dominate S&P activity, with buyers interest still focusing on the panamax and supramax sectors. Of greater interest has been the sudden, serious pick up in activity for boxships, especially feeder bargains. And the final week of January also saw tanker deals finally concluded after a slack start to the year.

“On the dry bulk side, the market is still showing a strongly bullish face, with activity still rolling at a relative high pace, while of late strong signs of price increases are showing face. This past week we underlining rumors have emerged of a couple of vessels in the market seeing a strong number of interested buyers making inspection and even showing a willingness to heavily compete on the price front, driving for a fair premium to be eventually paid against the last done similar deals reported,” Allied Shipbroking said in its latest report.

More than six shipbrokers have reported the sale of the 2010-built supramax Maple Island. Indonesian owner Lumoso Shipping acquired the 55,610 dwt bulker from Japanese owner Funada Kaiun for $15.5m, as first reported on Splash earlier this week. Lumoso Shipping currently operates a fleet of 11 bulkers comprising supramaxes and handymaxes.

Clarkson, Fearnleys, and Advanced Shipping & Trading all reported a deal in which the 2004-built supramax Ocean Pearl was sold by Turkish owner Mardeniz Shipping to undisclosed interests for $ 11m while Allied Shipbroking revealed the buyer of the 55,557dwt vessel is Qatari owner Milaha, which has been massively ramping its fleet of late, especially in the wake of its Arab neighbours shunning the country.

Another deal listed by multiple shipbrokers including Intermodal, Andreas J. Zachariassen and Advanced Shipping & Trading is the sale of 2001-built handymax bulker Nordic Kiel. Chinese owner Ningbo Shenyu Shipping acquired the 2001-built 48,377 dwt vessel from German owner Nordic Hamburg Shipping for $8.2m. The acquisition will increase Shenyu Shipping’s fleet to three bulkers.

Additionally, Allied Shipbroking reported a deal which featured in Splash last week that Italian shipowner Enrico Bogazzi’s Vittorio Bogazzi & Figli acquired the 1998-built handymax bulker Apuana D from compatriot owner T Bulk for $4.5m. If the deal finally materialises, it could mark Bogazzi’s reentry into the bulker sector as he sold his entire bulker fleet in 2016.

“On the tanker side, the volume being seen is still fairly soft, while this week it seemed as though things dropped further. Taking a look at the deals that emerged this past week, it is of note to point out that all the units that changed hands were vessels of above or close to 15 years of age mark,” Allied Shipbroking said in its latest report.

Advanced Shipping & Trading, Allied and Intermodal all reported that Indonesian owner Waruna Group taking the 2003-built chemical tanker Green Ray from Singapore’s Eastern Pacific Shipping. The 19,940dwt vessel fetched a price of $ 10.7m.

According to Clarkson’s weekly report, Indian owner Seven Islands has snapped up the 2000-built product tanker Ashland from UK owner Union Maritime, however the price of 46,162 dwt vessel was not disclosed. Splash covered this sale earlier this week, noting it was the third transaction between the two parties in recent years.

Following weeks of limited activities in the containership S&P market, the past week has seen a major surge in reported deals, mainly for feeders.

Multiple shipbroking houses reported a deal that Africa Express Line acquired the 2,510 teu Hermes from German owner Projex Schiff. The price of the 2006-built vessel is undisclosed.

In another deal, Clarkson, Intermodal and Allied Shipbroking have identified Vietnamese shipping firm Hai An Shipping as the buyer of 1,155 teu Asiatic Jade. Singapore’s Asiatic Lloyd Shipping sold the 2005-built vessel to the Vietnamese owner for 7.5m.

Allied Shipbroking listed the details of the sale of 1,078 teu Dorothy Trader. Greek owner Merman Maritime bought the 2002-built at an undisclosed price.

Lastly, Braemar ACM Shipbroking reported that Japanese owner Nissen Kaiun sold its 1,700 teu handymax IS China to Greek company Conbulk for $10.5m. The acquisition will add to Conbulk’s fleet to nine boxships.

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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