Second hand vessels enjoy high demand as prices are attractive
Saturday, 22 December 2012 | 00:00
Despite the fact that the year is closing to its end, activity in the second hand vessel market has been more than high. Ship owners are looking to get the best deals possible to cater to their needs, as attractive pricing makes for faster return on investment, even at today's low freight rates. Another popular option, except second hand ships, are resales done from shipyards, who have been keen to offload cancelled projects.
According to the latest report from Clarkson Hellas, five new Yangzijiang kamsarmaxes (82,000 dwt 2012/2013 blt China) were reported sold enbloc to Nishinat a price of US$ 23m each. "Tsuneishi Fukuyama has sold its Kamsarmax newbuilding Hull 1487 (82,100 dwt Jan 2013 blt Tsuneishi) to Greek buyers at US$ 27m. Further on, the Hull SO56 (81,993 dwt 2013 blt Hyundai Vinashin) reported sold to Greek buyers for US$ 23m. The vessel was originally contracted by clients of Hyundai Investment Corp and is due to delivery around April 2013.
Another pair of Kamsarmaxes understand are committed to Greek buyers. The Guangzhou Longxue Hull L0026 and sister Hull L0047 (82,000 dwt 2012 blt China) reported sold at US$ 22.5m. Sinopacific Shipbuilding have continued their sales run with the conclusion of another “CROWN 58” from their Dayang facility. Hull DY147 has now been sold to Greek buyers for $20.2m basis delivery January 2013. This follows on from the yard’s recent sales of three other “CROWN 58” ships for slightly higher levels of around US$ 21m to Chinese buyers, as well as two “CROWN 63” Ultramaxes (Hull DY4023 / Hull DY4021) for US$ 24.5m each to a German and a Greek buyer. Another resale to report this week is that of Hull H4066 (35,000 dwt 12/2012 blt SPP) from clients of Roxana Shipping S.A. to clients of Empremar, Chile for US$ 25.35m. This price looks very firm when compared to the recent sales of “NORD ANTWERP”, “NORD AARHUS” and “NORD DUBAI” (33,221 dwt 2011/12 blt Hyundai Mipo) for US$ 61.5m enbloc. We understand this high price could be to do with the fact that clients of Empremar specifically wanted to purchase a sister unit to “SPL TARAPACA” (which they bought in 2011) that could also give delivery within 2012. Additionally some suggested that long term subjects exist" the shipbroker said.
Clarkson Hellas added that "the post-panamax beam, coal trader M/V PEGASUS ISLAND (77,830 dwt 2002 blt Mitsui) has been concluded to undisclosed buyers at US$ 12.2m. Market rumours suggest either Greeks or Indonesians are behind this purchase but still unclear. Offers were invited last week on M/V IKAN BAYAN (75,777 dwt 2005 blt Sanoyas) after as many as 15 buyers had requested to inspect her in La Coruna earlier this month. We understand the Japanese owners received only a limited number of offers and have now committed the vessel to undisclosed Greek interests for around US$ 15.4m.
As the tanker market enters what should be the pre‐Christmas lull there is an unusual yet reassuringly high level of activity for this time of year. Vessels across the spectrum are being heavily inspected and prices in some segments are actually firming giving optimism for 2013 following a very subdued 2012. It should be noted that we are talking in purely sale and purchase terms here as we all recognise that there are challenging times still ahead particularly on the chartering markets. However the fact that some of these values are improving will hopefully give a little respite to some of the day to day pressures that Owners have been facing over the last couple of years. Several rumours exist in the market on the sale of the LR2 M/T CHAMPION PRIDE (99,997 dwt 1998 blt Samsung) in respect of the final price and the buyers’ id. Hopefully till our next report both will be clear and shall report accordingly" Clarkson Hellas concluded.
In a separate report, shipbroker Golden Destiny said that "the S&P activity in the bulk carrier segment keeps its firm volume of business with panamax and handymax vessels being on the focus of investors this week with a notable resale reported in the supramax segment. In the tanker segment, an interesting deal reported in the panamax size as a bank driven sale, M/V “NORDIC ANNE” 73,723dwt built 2009 China at a price in the region of $25 mil with four S&P transactions for small tanker tanker vessels of less than 10,000dwt. In the container segment, the buying interest of investors holds very quiet, while in the gas tanker segment, two small LPG tankers changed hands as sale & leaseback deals.
Overall, 21 vessels reported to have changed hands this week at a total invested capital in the region of US$ 237,55 mil with bulk carriers and tankers grasping 64% share of the total S&P activity. In terms of the reported number of transactions, the S&P activity is up by 17% from last week’s activity with a 100% rise in tankers’ purchases, while is 40% up from previous year’s weekly S&P activity, when 15 vessels induced buyers’ interest at a total invested capital of about $258,55 mil, 4 bulk carriers, 6 tankers, 1 gas tankers, 2 liners and 2 containers. In terms of invested capital, the bulk carrier segment attracted about 42% of the total amount invested in the secondhand market with 7 total purchases at about $111,35mil and tankers 28% with 6 total purchases at about $65milion" it concluded.
Nikos Roussanoglou, Hellenic Shipping News Worldwide