Dry Bulkers in Demand as Rates Move Higher

The recent rise in the dry bulk freight market has reinforced shipowners’ “appetite” for more second hand bulkers. In its latest weekly report, shipbroker Banchero Costa said that “it was an active week in the bulker market: the Capesize IRON PHOENIX 180,000 dwt 2012 Tsuneishi Cebu was rumoured sold in around $35 mln. As a matter of comparison, in February the NEW DELIGHT 2012 built Imabari was sold at $31.9 mln. The modern-eco Kamsarmax BBG QINZHOU 81,000 dwt 2019 Tianjin was sold through online auction at $30.06 mln. Two Japanese Supramax were reported sold: the MAINE DREAM 58,000 dwt 2012 Tsuneishi Cebu was rumoured at $19.3 mln, while the NORDIC STAVANGER 56,000 dwt 2011 Mitsui was sold for a price in excess of $18 mln”.

The shipbroker added that “on Handysize, the HILMA BULKER 34,000 dwt 2017 Namura was reported sold at $23.5 mln. Limited activity in the tanker market with few sales recorded. Among these, the sale of the C PROSPERITY 313,000 DWT 2009 Hyundai HI (scrubber fitted) stands out, reported to Kyklades Maritime for $53 mln. The Greek shipowner Aerio Shipmanagement was active on both the buying and selling front. On the sales side, they sold the FOS ENERGY 45,000 DWT 2006 STX for $20.5 million to undisclosed buyers. For comparison, the one-year-younger GRACE FORTUNA 47,000 DWT 2007 STX was reported sold at the end of May for a price in the region of $23.25 mln. On the purchasing side, Aerio bought a younger MR, the DIGNITY 50,000 DWT 2010 GSI, at $29 mln”.

In a similar note, shipbroker Xclusiv added that “the Electronic M/E Capesize, “Iron Phoenix” – 181K/2012 Tsuneishi Cebu was sold for USD 35 mills to clients of Agricore. Moving down the sizes, the Post-Panamax “Lowlands Horizon”- 93K/2018 Oshima was sold for USD 36 mills to Greek buyers. Chinese buyers acquired the Ultramax “Luna Rossa” – 62K/2010 Oshima for USD 20.5 mills. On the Supramax sector, the “Tristar Prosperity” – 57K/2012 Cosco Guangdong found new owners for USD 15 mills, while the 2-year-older “UM Elhanaya”- 57K/2010 Qingshan changed hands for mid/high USD 12 mills. Last but not least, the Handysize “DL Lilac” – 34K/2012 Samjin found new owners for USD 12 mills basis forward delivery”. Meanwhile, in the wet segment, “the Scrubber fitted LR2 “Aristofanis” – 116K/2020 Daehan was sold for USD 78.8 mills to  clients of   ASCO, while the Scrubber fitted Aframax “Pusaka Java” – 109K/2018 Tsuneishi changed hands for USD 69 mills. The MR2 “NCC Tihama”- 46K/2006 HMD found new owners for USD 22.5 mills”, Xclusiv concluded.

Meanwhile, in the newbuilding market, Banchero Costa said that “in the tanker market Cido Shipping placed an order for 3 x MR2 and 2 x LR2 basis delivery 2027 and 2028 at Hyundai Vinashin. China was particularly active in the Bulk Carrier sector, Vogemann exercised options for 4 additional Capesizes at Hengli H.I. bringing the order at the yard to 8 units, price reported at $63.5 mln per vessel, deliveries within 2026. New Dayang received an order for 2 + 1 Crown63 Ultramax from Industrial Holding Bulgaria, prices reported at $35.5 mln each, deliveries in 2027. Hong Kong based Jinhui Shipping placed an order for 2 Ultramaxes at Jiangsu Hantong, price $34 mln apiece and deliveriesset for 2026 and 2027”.
Nikos Roussanoglou, Hellenic Shipping News Worldwide