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Ship Owners More Active in the S&P Market

Ship owners have been more active in doing deals in the S&P market, rather than the newbuilding one. In its latest weekly report, shipbroker Banchero Costa noted that it was an “active week in the dry bulk market: a Japanese Capesize named CAPE AGNES 181,000 dwt built in 2010 by Koyo (SS due in Nov) was sold to a local Japanese Buyers for region $18 mln (we understand may be part of an internal sale since the ship was owned in JV). After the sale of the sister ship recently, also the LM VICTORIA 92,500 dwt built in 2010 at Yangzijiang (SS due in Sept 2020) was sold for a price in excess of $9 mln, no direction known yet. A few sales and several negotiations were recorded during the week, all in the mid 2000 vintage. The ODIRIS 56,000 dwt built in 2005 by Mitsui was sold (SS due in Nov 2020) at a price of $6.5/6.6 mln to Greek Buyers (rumoured S Bulkers). The HELENE SELMER 56,000 dwt built in 2005 at Mitsui was sold to Far Eastern Buyers at $6.35 mln (basis SS due fairly prompt). A Ugland controlled 2004 Tess 52 built in Cebu mv FAVORITA it was committed for $6.8/6.85 mln (firmer price compared to other similar units was due to the fresh SS passed 2019 and the BWTS fitted). The FREEDOM LINE 56,000 dwt built in 2005 by Mitsui (SS passed end 2019) was trading in the low $7 mln, while the NITON COBALT 52,000 dwt built in 2004 at Tsuneishi Japan (SS passed end 2019) was in the low $6 mln and maybe sold anytime during the week. In the tanker market, the VLCC segment kept being active with few old sales coming up to light, otherwise the momentum was slowing (as well as the sales) on Aframax and product tankers sales. In the chemical segment a fairly modern 2010 built IMO II mv GULF MIDRIF 46,000 dwt built in SLS (29 tanks) was sold to Chinese buyers and going to be delivered soon”, the shipbroker said.

Meanwhile, in the newbuiding market, Allied added that it was “a rather uninspiring week was due for the whole newbuilding market. Following the strong market of just the week prior, new order activity seems to have returned back to the sluggish pace that we have experienced for a prolonged period now. However, for the dry bulk sector, it was rather an interesting week, given the firm activity mostly in the Kamsarmax size segment. Moreover, given both the bullish track from the side of earnings during the past couple of weeks or so and the considerable correction in newbuilding price levels, we may well expect some further activity to develop over the coming months. This, on the other hand, doesn’t indicating any sort of rebalancing in the market, given the general disarray being noted since the start of the pandemic. In terms of other market sectors, the Gas sector witnessed a firm order for 2 (with a further 2 optional) LNG units. Notwithstanding this, all other main sectors remained quiet for the time being”, Allied said.

Source: Banchero Costa

Banchero Costa added that “in the gas market, the Russian operator Novatek signed with Daewoo 2 + 2 large LNG barge 360 cmb for delivery during 2022-2023. Vessel to be utilised for storagetranshipment and each vessel was priced at $365 mln each. Concerning the dry bulk segment, 2 x Supramax 56,000 dwt were ordered by Shanghai Ganglu Shipping at Yangzijiang shipyard for delivery 2022. In Japan, Hakodate received an order for a single Handysize 39,000 dwt for delivery during the second half of 2021”, the shipbroker concluded.
Nikos Roussanoglou, Hellenic Shipping News Worldwide

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