The strong rebound of sale and purchase activity in the previous week did not continue this week, despite the chartering market showing a notable pick up across most sectors. It is believed that the market is still in the process of shifting fundamentals and investors are re-evaluating their positions. Prices are set to rise, Splash understands.
Fearnleys is reporting cape rates have jumped nearly 15% in five trading days, following a healthy leap last week too.
Intermodal reports that the crude carrier market extended the gains of the week prior, with demand fundamentals improving overall and building up expectations for further gains in the coming days.
“On the dry side, activity seemed to be winding down this past week, with the overall sector showing a gap on the back of shifting market fundamentals as of late. With buying appetite seeming ample for the time being, we can expect a further boost in activity for the remaining part of the year, though for the time being it seems as though most are taking a step back to re-evaluate their position before acting in haste,” Allied Shipbroking said in its weekly report.
Multiple shipbroking houses reported a deal in which the 2010-built 180,371 dwt capesize bulker New Dalian has been sold by Cosco Shipping to Greek owner Panos Laskaridis’ Lavinia Bulk. The Chinese-built vessel has fetched a price of $27m.
Lorentzen & Stemoco, Allied Shipbroking, Intermodal all listed the sale of the 2010-built 81,000 dwt kamsarmax bulker Sky Jade. Chinese leasing outfit Minsheng Financial Leasing acquired the Japanese-built vessel from Mitsubishi Corporation for $19.2m.
“On the tanker side, a considerable slowdown in terms of activity was to be noted this past week, after an impressive rally seen just the week prior. Given the general perplexed sentiment towards the market for the year so far, the volatile nature in the S&P market can only be seen as a mere reflection of this. Notwithstanding this, as we enter the final quarter, most probably we may well continue seeing a number of interesting deals being concluded, with periodical ups and down noted in-between,” Allied Shipbroking said.
Intermodal reported an en bloc sale deal of two 2011-built VLCCs, DS Venture and DS Vision. China’s Minsheng Financial Leasing is said to have acquired the two Chinese-built tankers from German owner DS Tankers for a price of $56m each.
Seasure Shipbroking and Advanced Shipping & Trading listed the sale deal of the 2003-built 151,800 dwt suezmax tanker African Spirit. The South Korean-built vessel is sold by Teekay LNG Partners to Greek owner Vardinoyannis’ Avin International for a price of $13m.
There was no secondhand containership activities to report this past week.