Weekly Broker: Firming sentiment sees plenty of ships change hands

Firming sentiment among larger bulkers with iron ore trades picking up has resulted in an uptick of S&P deals.

The Baltic Dry Index has been steadily climbing back into firm four-digit territory since May to the relief of owners across the world. Similarly the continued surge of MR tanker sales shows no sign of abating this week.

“The improved sentiment of owners has led interest for secondhand units to rise of late, with more deals anticipated to take place soon. Focus was given last week to the panamax and supramax segments, feeding off a much improved overall market picture that has been taking shape right now,” Allied Shipbroking said in its most recent weekly report.

Lorentzen & Stemoco, Advanced Shipping & Trading and Seasure Shipbroking all listed the sale of the 2002-built, 91,000 dwt post-panamax bulker Brilliant Century. The Japanese-built vessel is said to have been sold by Japanese owner MOL to Chinese interests for a price of $8.2m.

Allied Shipbroking, Advanced Shipping & Trading and Banchero Costa reported that Greek owner Seastar Chartering has sold its 2002-built, 52,500 dwt supramax bulker Hector to Chinese interests. The Japanese-built vessel fetched a price of $6.6m.

Intermodal and Advanced Shipping & Trading reported the sale of the 1998-built 42,000 dwt handymax bulker Star Masaya. The Japanese built vessel was sold by Greek owner Sitinas Shipping for a price of around $4m. Following the sale, Sitinas Shipping has cleared out its entire fleet.

“On the tanker side, activity slowed down during this past week, but with interest remaining strong amongst buyers. Last week, the MRs took the protagonists role once more on the S&P market, with three more units changing hands. The positive outlook on the oil market will probably continue boosting appetite amongst buyers. However, it is worth mentioning that the current tensions being noted in the MEG, may lead some buying interest to subside and possible market players to take a step back and wait and see how things will evolve,” Allied Shipbroking said.

Intermodal reported an en bloc transaction whereby Danish owner Torm acquired a pair of 2010-built 46,000 dwt MR tankers, Atlantic Queen and Atlantic Pegasus, from Hong Kong-based Cido Shipping for a price of $20m each. This month, Torm also acquired four MR tankers from German owner Claus-Peter Offen.

Banchero Costa reported that Taiwanese owner Formosa Plastics has sold a trio of 50,900 dwt product tankers, the 2009-built FPMC 20, FPMC 21 and the 2010-built FPMC 22, which had been listed for sale since April. The three vessels have been sold to European buyers for an en bloc price of $45m, some $3m less than what Formosa Plastics had originally been seeking.

The secondhand containership market has seen volume and interest pick up substantially this week.

Alphaliner reported German owner Hinsch Reederei are in the process of purchasing three 698 teu ships, including the 2006-built Max Pride taken over from Vroon. The ship has been renamed Sunaid X under the Portuguese flag. The vessel is currently on charter to Greek operator SBS Samothrakitis Shipping.

Seasure Shipbroking and Advanced Shipping & Trading reported a deal in which Norweigian owner Atlantica Shipping bought the 2005-built, 3,091 teu panamax boxship JPO Leo from Oltmann Schiffarhts for a price of $7m.

Clarksons, Seasure Shipbroking and Advanced Shipping & Trading all reported the en bloc sale of two 2008-built 1,708 teu boxships, Sinar Sangir and Sinar Subang. Japanese owner Nissen Kaiun sold the pair to Chinese interests for a price of $8.5m each.

Braemar ACM Shipbroking reported that the 2007-built 704 teu feeder boxship Contship Ace was committed to Chinese buyers at a firm price of $3.45m.

According to Braemar’s container report, two unnamed 9,400 teu container vessels have been sold in a further deal between compatriot Chinese leasing companies.

“This continues the trend of charter attached assets being reshuffled domestically as International Buyers have as yet not been able to make sense of the required numbers,” Braemar said.