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Weekly Broker: July tops the charts for bulker sales

The sale and purchase market for secondhand bulkers saw a slight slowdown in the past week, while the chartering market also saw a general decline following weeks of strong performance, especially in the big size segments. The slowdown is expected to last a few weeks. Nevertheless, July was a remarkable month for dry bulk – with London brokers Alibra noting it was the busiest of the year so far for bulker sales, led by 14 confirmed supramax sales.

“On the dry bulk side, activity eased back slightly this past week, but remained at relatively strong levels. Last week’s reported deals were spread mainly across the panamax and ultramax sizes. With the freight rate rally taking a pause and being in the midst of the summer period, it is likely that we will see a further slowdown in volumes over the following weeks. However, this does not mean that buying appetite is limited, and in the case that freight continue to show a bullish face, things could well heat up even in the midst of August,” Allied Shipbroking said.

Allied reported a resale deal in which Oman Shipping has taken over two 64,000 dwt newbuild ultramax bulkers from Singapore-based New Yangtze Navigation. The two newbuildings – Yangtze Angel and Yangtze Brave – scheduled for delivery this year, were sold for $23m each.

Seasure Shipbroking, Advanced Shipping & Trading and Banchero Costa listed the sale of the 2003-built, 28,400 dwt handy bulker Genco Challenger. The Japanese-built vessel was sold by Genco Shipping & Trading to Vietnamese buyers for a price of $5.2m.

More than eight shipbroking houses reported the sale of the 2006 Japanese-built 76,500 dwt panamax bulker Eternal Grace. Japanese owner Toshin Kisen sold the vessel to Chinese buyers for a price of $9.6m.

“On the tanker side, a considerable amount of transactions were reported this past week, with focus given to the oil products segments. We have already seen aggressive moves take place in the year so far from several buyers in the market. Even though we may see a slowdown in the SnP activity in the following weeks due, further activity is expected as we approach the final quarter of the year,” Allied Shipbroking said.

Seasure Shipbroking, Advanced Shipping & Trading, Allied Shipbroking and Banchero Costa all reported the sale of the 2002-built, 47,000 dwt MR tanker Torm San Jacinto. Danish owner Torm sold the vessel to Middle Eastern interests for $8m.

Multiple shipbroking houses reported Taiwanese owner Formosa Plastics Marine has committed its 2010-built, 51,000 dwt MR tanker FPMC 23 to Greek buyers for a price of $15m. Intermodal identified the buyer as Vardinoyannis family controlled Avin International.

In the secondhand containership sale and purchase market, although the number of sales is limited this week, discussions continue with various vessels close to commitment, according Braemar ACM Shipbroking.

“With the continued firming of charter rates in the larger sectors, we expect to see an increase in buying activity over the coming weeks,” Braemar said in its report.

Allied Shipbroking, Intermodal and Clarksons all reported the deal in which German owner Thomas Schulte sold its 2012-built 3,600 teu panamax containership Lilly Schulte to domestic owner Elbdeich Reederei for $8.6m.

Alphaliner reported that Orient Express Lines (OEL) has purchased two containerships of 1,134 teu. The shipping line, part of Transworld Group Singapore, recently acquired the sister ships Asiatic Jade and Asiatic Glory, built in 2005 and 2006, from Singapore-based Asiatic Lloyd. OEL has renamed the vessels OEL Fortune and OEL Progress.

Alphaliner also reported China Navigation has purchased the 1,732 teu Hansa Lidwigsburg, built in 2011, at an undisclosed price.

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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