Capesize values softened in December 2022
Notable sales include the Newcastlemax Cape Maple (206.200 DWT, Aug 2005, Imabari) that was sold (SS due) to unknown Chinese buyers for USD 15.50 mil, VV value USD 16.01 mil. The Aquahope (177,200 DWT, Oct 2007, Namura) that sold to unknown Turkish buyers for USD 18 mil, VV value USD 18.87 mil.
Container values fall year on year
Container values have fallen further as sentiment softens, based on continued global macroeconomic concerns and reduced consumer spending. Values for five year old Sub Panamax Container vessels of 2,500 TEU have fallen by c.41% year on year (YoY), from USD 52.39 mil to USD 30.83 mil. Whilst this figure represents a significant decline from last year’s highs, values remain above average. Prior to the recent spike, the last time such levels were seen was in 2011.
Similarly, although Sub Panamax earnings are still well above historical averages, current freight rates have declined by c.71% YoY to 18,070 USD/Day.
Notable sales include a benchmark deal that indicates softening values for this sector, the Sub Panamax Sealand Guayaquil (2,546 TEU, Jan 2009, Jiangsu Yangzijiang) that sold earlier this week for USD 13 mil, the sellers had originally bought the vessel in 2018 for USD 12.6 mil. The ship has been chartered to Maersk at 17,500 USD/Day for two years since March 2021.
Source: VesselsValue