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Weekly Broker: Waiting for a pick up

Over all it’s been a quiet week in the secondhand ship sale scene, despite many candidates being placed in the shop window. Hopeful brokers anticipate deals to pick up in the coming days however.

Both Allied Shipbroking and Lorentzen & Stemoco reported the sale of the 2013-built 57,200 dwt supramax bulker Sam Hawk. The South Korean-built vessel was sold via court auction to European buyers for $10.65m. Last month, another SAM vessel, Sam Eagle, was sold via auction at the request of Credit Suisse due to a financial dispute with the Swiss owner Shipping Asset Management (SAM).

Advanced Shipping & Trading, Allied Shipbroking and Lorentzen & Stemoco all reported that Singapore’s Rohium Resources sold the 2006-built 53,700 dwt Raffles Quay. The Chinese-built vessel was sold to undisclosed buyers for $5.25m.

Clarksons, Seasure Shipbroking and Advanced Shipping & Trading all listed a deal in which Japanese owner Sugahara Kisen sold the 2013-built 38,200 dwt handysize bulker Glorious Kamagari to undisclosed buyers for $12.8m.

“On the tankers side, it was a rather interesting week in terms of activity being noted. After an uninspiring period, the market seems to be entering a stronger pace, with buying appetite varying across different size segments. However, given the generally mediocre state from the side of earnings, it will take some time, before balance is restored,” Allied Shipbroking said in its latest weekly report.

Allied reported that Chinese yard Fujian Mawei sold three 2019-built chemical tankers. Two 11,000 dwt tankers were sold to Chinese owner Fujian Chang Sheng Fa Shipping at $12m each, and another 23,500 dwt product tanker was sold to Greek buyers for $25m.

In the secondhand containership S&P market, according to Braemar ACM, there is now very much more buying interest than ships for sale – especially with the steady charter market allowing for any potential sellers to position the ships into what is hoped to be greener pastures in 2021.

Alphaliner has identified the two 13,300 teu vessels bought by Seaspan last month for $146m en bloc, naming them as Peter Dohle’s Madrid Express and Paris Express.

Additionally, China’s SITC has been confirmed as the buyer of the 2,702 teu Bomar Aurora from UK-based Borealis Maritime for $6m.

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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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