Weekly Vessel Valuations Report, May 16 2023
Bulkers: Bulk carriers have remained stable
Capesize BC Olympius (171,300 DWT, Feb 2004, Hyundai Samho Heavy Ind) sold to Unknown UAE for USD 17.00 mil, VV Value USD 14.08 mil.
Panamax BC Sweet Lydia, Sweet Venus, Sweet Irina and Sweet Melissa (79,500 DWT, Sep 2011- Jun 2012, JIM) sold in an en bloc deal to Lomar Shipping for USD 68.00 mil, VV Value USD 67.90 – BWTS
Ultramax BC Bulk Electra (66,600 DWT, Dec 2015, Mitsui Tamano) sold to undisclosed buyers for USD 27.00 mil, VV Value USD 29.88 mil.
Ultramax BC Vokaria (63,800 DWT, Mar 2020, COSCO Shipping Heavy Industry Yangzhou) sold to unknown South Korean buyers for USD 30.30 mil, VV Value USD 30.44 mil – DD Passed.
Handy BC Ithaca Stockholm (35,100 DWT, Jul 2010, Nantong Jinghua) sold to unknown Indian buyers for USD 11.00 mil, VV Value USD 11.82 mil – BWTS.
Handy BC Mardinik (33,900 DWT, Mar 2011, 21st Century) sold to unknown Syrian buyers for USD 14.40 mil, VV Value USD 13.99 mil – BWTS.
Tankers: Baltic Sunrise failed due to poor spot market earnings, however, further declines in VLCC values still expected. Modern Aframax values are expected to fall due to the sales of Southern Glory and PS Pisa
Suezmax Classic (159,200 DWT, Oct 2005, Hyundai Heavy Ind) sold to undisclosed buyers for USD 36.75 mil, VV Value USD 36.79 mil.
LR2 Ampleforth (108,900 DWT, Aug 2008, Shanghai Waigaoqiao Shipbuilding) sold to undisclosed buyers for USD 36.00 mil, VV Value USD 37.77 mil – BWTS.
LR2 PS Pisa (108,800 DWT, Mar 2010, Hudong Zhonghua) sold to Middle Eastern buyers for USD 36.50 mil, VV Value USD 41.71 mil.
Aframax Southern Glory (108,600 DWT, May 2019, Tsuneishi Zosen) sold to undisclosed buyers for USD 67.75 mil, VV Value 70.53 mil – BWTS.
LR1 Lumen N (63,600 DWT, Aug 2008, STX Offshore) sold to unknown Chinese buyers for USD 22.30 mil, VV Value USD 24.97 mil – SS/DD Due.
MR1 Blue Trader (37,300 DWT, Mar 2005, Hyundai Mipo) sold to undisclosed buyers for USD 18.20 mil, VV Value USD 16.83 mil – DD Due.
Containers: Container values have firmed
Post Panamax Axel, Anna, Arnold, and Adrian Maersk (8,272 TEU, Mar 2003-Apr 2004, Odense Steel) sold to Global Ship Lease in an en bloc deal worth USD 123 mil (SS/DD Due), VV Value USD 134.08 mil – The deal included a TC back at a rate of USD 26,000 pd + 1 yr option.