Second Hand Market Still Very Busy

The second hand S&P market has kept its bullish momentum for yet another week. In its latest weekly report, shipbroker Banchero Costa said that it was “a busy week in the second hand market: in the dry segment, activity was reported for every size. Starting from Capesize, the OCEAN COURTESY 178,000 dwt 2008 SWS was reported sold to Jinhui at $24 mln. It is worth to note that at the beginning of the year a 2006 built sistership HIGHLAND PARK was sold in the low $15s mln. The modern PostPanamax LOWLANDS HORIZON 93,000 dwt 2018 Oshima was rumoured sold to Greeks at $36 mln. The 2012 built Dolphin57 design Supramax TRISTAR PROSPERITY was reported sold at $15 mln, while the Crown58 GILLINGHAM 58,000 dwt 2010 Dayang was sold at $13.2 mln. In the Handysize market 2 Japanese controlled large Handies were reported sold: the BAMBOO STAR 38,000 dwt 2019 Minaminippon was rumoured sold to HHM in the very high $17s mln, while the SPICA HARMONY 37,000 dwt 2019 Oshima was reported sold at $28.5 mln. Still firm prices in the tanker market for modern vessels: the Japanaese built Aframax PUSAK JAVA 108,000 dwt 2018 Tsuneishi was rumoured sold to Eastern Pacific at $68 mln. Two modern Handytankers, the TRF MEPHIS and TRF MOBILE 37,000 dwt 2016 Hyundai Mipo (Scrubber fitted) were rumoured sold enbloc to Norwegian buyers at $69 mln”.

In a separate note, shipbroker Xclusiv added that “on the Newcastlemax sector, the Scrubber fitted “Berge Bobotov” – 208K/2021 Bohai was sold for USD 75 mills to Greek buyers. The Capesize “Ocean Courtesy” – 178K/2008 SWS was sold for USD 24 mills to clients of Jinhui. On the Supramax sector, the “Nordic Stavanger” – 56K/2011 Mitsui found new owners for excess USD 18 mills, while the 2-year older “Rego”- 59K/2009 Tsuneishi Zhoushan changed hands for USD 16.4 mills. S&P activity was very strong on the Handysize sector, with 8 vessels founding new owners this week. Turkish buyers acquired the “Maestro Emerald” – 40K/2020 Saiki for USD 30 mills. The one-year older “Bamboo Star” – 38K/2019 Minaminippon was sold for excess USD 28 mills to S. Korean buyers, while the “Spica Harmony”- 37K/2019 Oshima found new owners for USD 28.5 mills. Furthermore, on the same sector, Greek buyers acquired the “Kouros Pride”- 34K/2011 Dae Sun for USD 13.8 mills, while the “Charline” – 30K/2010 Tsuji Heavy changed hands for USD 11mills”.

Meanwhile, in the tanker S&P market, the MR1 and MR2 sectors dominated activity this week. The MR2 “Endless Summer” – 50K/2010 Onomichi found new owners for USD 30 mills. Finally, 2x Scrubber fitted Interline coating MR1, the “TRF Memphis” – 38K/2016 HMD and the “TRF Mobile” – 38K/2016 HMD were sold enbloc for USD 69 mills to Norwgian buyers”, Xclusiv concluded.

In the newbuilding market this week, Banchero Costa commented that it was also “still very active market predominantly for container and tanker units. Nothing relevant to report in terms of new dry bulk contracts. In the Container sector a company controlled by Fredriksen firmed a deal for 5 x 16,800 teu at New Times backed by a 10 years TC. Another big spender, Eastern Pacific, selected New Times for the construction of up to 8 + 4 x 18,000 teu (8 firm units plus 4 options), the whole project is valued over $2.45 billion. CMA-CGM is backing the deal with a long TC. In the tanker market an affiliated company of Laskaridis Maritime named Alimia Group signed a contract for 5 x LR2 to be built at Penglai Jinglu for delivery in 2026 and 2027, no price emerged for the order. Hyundai Mipo, specialised in product tanker business, was awarded a contract for four Handy Tankers of 37,000dwt from Evalend at a reported price of about $48.3 mln. We understand other Korean shipyards specialised in product tankers such has STX and K Shipbuilding received fresh orders as evidence of the strong belief there is in this sector, no price nor deliveries were confirmed so far. A fresh order was also recorded in the gas sector with ADNOC ordering 8 x 174,000 cbm LNG Carriers at Samsung and Hanwha Ocean (ex Daewoo) splitting equally between the yards. There are 2 options attached which, if confirmed, will bring the total investment to about $ 2.5 billions”, the shipbroker concluded.
Nikos Roussanoglou, Hellenic Shipping News Worldwide