Dry Bulkers in High Demand

Dry bulk carriers have been in high demand, with more deals being reported on a weekly basis. In its latest report, shipbroker Banchero Costa said that “a decent volume of activity was concluded last week, mostly for Dry Bulkers with deals reported for geared tonnage, Capesize and Newcastlemax. The MINERAL CHARLIE 205,000 dwt built 2012 HHI (Philippines), controlled by Bocimar, was rumoured sold to Chinese buyers at $39 mln in line with the similar CAPE AZALEA 205,000 dwt built 2012 NACKS reported recently. NORDEN was reported selling the NORD MAGNES 180,000 dwt built 2011 HHI (Philippines) scrubber fitted for a price in the very low $30s mln. Other 2 Capesizes were rumoured sold: the PONTOTRITON 175,000 dwt built 2007 SWS at $23 mln and the AZURE OCEAN 180,000 dwt built 2007 Imabari around $25 mln. A strong price was achieved by the eco-type, Oshima built Ultramax AMIS MIRACLE 63,000 dwt built 2018 which was reported sold for $34.35 mln; a month ago the JAL KAMAL 63,300 dwt built 2020 Imabari was sold for high $37m. The ETERNAL HAKATA 61,000 dwt built 2014 Imabari (eco-type) was inviting offers last Friday and she was rumoured around $24/25 mln to Greek Buyers. An eco type and shallow draft design Handy BC, the AFRICAN EGRET 34,370 dwt built 2016 Namura was reported sold to Greek Buyers around $21.5/22 mln. The tanker market was quieter with only a relevant deal concluded by Scorpio Tankers who officially announced the slae of 2 x 2014 SPP built scrubber fitted MR2, the STI SAN ANTONIO and STI TEXAS CITY for a total price of $85 mln basis dely Q4 with SS fresh passed”, the shipbroker said.

In a separate note this week, shipbroker Xclusiv said that “the dry S&P activity remains robust, with the Capesize, Supramax, and Handysize sectors being the leaders. The Capesize sector has noted an upward trend since August 1st, having increased around 50% since then and being just 21% down from its year-to-date high reached on mid-March. The upward trend has resulted in an increase in buying appetite for Capesize vessels, especially among Chinese buyers. The Newcastlemax “Mineral Charlie” – 205K/2012 HHIC was sold for USD 38.8 mills to Chinese buyers, while the Scrubber fitted Capesize “Nord Magnes”- 180K/2011 HHIC was also sold to Chinese buyers for USD 31.5 mills. Furthermore, on the same sector, the “Alpha Prudence” – 178K/2008 SWS found new owners for 24.5 mills, whilst the “Glovis Ambition” – 173K/2002 NKK changed hands for USD 14.2 mills.

Elsewhere, the Ultramax “Amis Miracle” – 63K/2018 Oshima found new owners for USD 34.35 mills, while Greek buyers acquired the Electronic M/E “Eternal Hakata”- 61K/2014 Imabari for USD 24.75 mills. On the Supramax sector, the “Nasco Pearl” – 57K/2010 Zhejiang Zhenghe and “Nasco Jade” – 56K/2010 Zhejiang Zhenghe were sold for high USD 12 mills each. Last but not least, Greek buyers acquired the Handysize “Globe Explorer” – 28K/2015 Imabari for USD 14.7 mills, while the 15-year old “Transformer Ol” – 28K/2009 Shimanami was sold for low USD 9 mills to Vietnamese buyers. Meanwhile, the tanker S&P activity was subdued this week, with only 4 sales to reports. The Panamax “Inf Light”- 73K/2006 Dalian was sold for USD 17 mills to Chinese buyers. The MR2 “Pioneer” – 49K/2005 Daewoo found new owners for USD 18 mills. Finally, the Small tanker “Fortune Swan” – 11K/2006 STX changed hands for USD 9.2 mills”, Xclusiv concluded.

Meanwhile, in the newbuilding market, Banchero Costa said that “Greece’s Nereus Shipping, a subsidiary of CM Lemos, expanded its orderbook adding 3 x 158,600 dwt Suezmax tankers. The vessels will be built at Japan Marine United’s Tsu Shipyard with delivery set for 2027. The price remains undisclosed for the time being. Wah Kwong made a significant entry into the LR2 product tanker market with a provisional newbuilding contract worth approximately $140 mln with Hengli Heavy Industry, in China. The deal, for 2 x 114,000 dwt LR2s, marks Wah Kwong’s first tanker newbuilding contract in almost a decade. In the coastal tanker segment, Turkey-based Capramar Gemi Isletmeciligi placed an order for 4 x 7,500 dwt product carriers with Ningbo Xinle in China. Deliveries are scheduled to begin in Q3 2025, with the fourth and final ship to be delivered in May 2026. Hyundai Mipo secured a contract for 2 x 18,000 cbm dual fuel tankers from an undisclosed European owner (rumored as Peninsula), priced at $92.8 mln each – one of the largest bunkering units currently available. In the containership market, Chinese giant COSCO Shipping Holdings placed an order at COSCO Shipping Industry in Yanghzou for 12 x 14,000 TEU vessels. Vessels will be dual fuel methanol and priced $179.5 mln each and deliveries from 2026”.
Nikos Roussanoglou, Hellenic Shipping News Worldwide