Weekly Broker: Modern bulkers in high demand

Weekly Broker: Modern bulkers in high demand

The strong performance in the secondhand dry bulk sale and purchase market continues for yet another week, coupled with the positive performance in almost all bulker chartering segments, while activities in the tanker sale and purchase market has scaled back.

According to Alibra’s weekly report, although there has been little activity reported in the period market for capes, the overall sentiment is positive, while period activity for the panamaxes has been firm this week with strong rates reported in the Atlantic, additionally, smaller sizes have remained active with supramax rates firming for shorter periods.

“On the dry side, another week with the market holding at fairly good
activity levels, though relatively slower then what was seen a week
prior. The majority of reported volume seemed to have been focused 
on the larger sizes with capes and panamaxes attracting most of the 
buying interest being seen of late. We have also seen a considerable portion of buying interest attracted to more modern tonnage, possibly taking on the lower risk involved with regards to any conversions and works that need to be done in order to comply with the new emissions regulations,” Allied Shipbroking said in its weekly report.

More than eight shipbroking houses listed the sale deal of the 2014-built 181,000 dwt capesize bulker Bulk Asia. The Japanese-built vessel was sold by Japanese owner Nissen Kaiun to Singapore’s Eastern Pacific for a price of around $40m.

Intermodal has linked an en bloc resale deal of two VLOCs at Qingdao Yangfan Shipbuilding involving Belgian owner Bocimar. The two 206,000 dwt bulkers, originally ordered by South Korean owner Dong-A Tanker, have fetched a price of around $45m each. Deliveries of the vessels are scheduled this year.

Lorentzen & Stemoco and Seasure Shipbroking both identified the buyer of the 2011-built 55,000 dwt supramax bulker Ivy Unicorn as Greek owner Neptune Lines Shipping. The vessel fetched a price of $16.5m.

“On the tanker side, activity fell back to the average levels we had been seeing during the first half of the year. Most of the deals that emerged this past week seemed to have focused on the product tanker segments, while given the current trends being noted in the freight market for some of the larger crude oil carriers, it wouldn’t be much of a surprise if we started to see buying interest shift here,” Allied Shipbroking noted.

Several shipbroking houses including Allied Shipbroking, Lorentzen & Stemoco, Clarkson and Andreas J. Zachariassen reported the sale of the 2011-built 74,000 dwt LR1 tanker Red Eagle. Pakistan National Shipping Corporation has acquired the South Korean-built vessel from Mauritius-based owner Betonix for a price of around $20m.

This past week has seen a surge in secondhand containership sale and purchase deals. In addition to a major deal reported by Splash earlier this week that China’s Minsheng Financial Leasing snapped up five containerships from Singapore’s PIL, multiple shipbroking houses reported that German owner Hartmann Schiffahrts has sold four 1,114 teu feeder boxships- the 2008-built Frisia Inn, and the 2007-built Frisia Iller, Frisia Alster and Frisia Aller to Greek interests for $6m each. Clarkson identified Greek owner Nicolas Pateras’ Pacific & Atlantic Corporation as the buyer although Splash understands the ships are destined for Pateras’s other company, Contships Management.

Additionally, Taiwanese owner Formosa Plastics has sold three 1,118 teu feeder boxships, the 2009-built FPMC Container 10, and the 2006-built Formosa Container 5, and the 2009-built FPMC Container 9 to undisclosed interests for a total of $19.5m as part of its efforts to clear out its fleet.

Jason Jiang

Jason worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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