Dry Bulk Carriers the Pick of the Bunch for Shipowners
Dry bulk carriers in the secondhand market have been among the most popular choices from shipowners over the past week. In its latest weekly report, shipbroker Allied Shipbroking said that “on the dry bulk side, things appeared more vivid as of the past week, given the fair numbers of transactions taking place, especially when taking account the fact that we are approach the peak of the summer holiday period. On the other hand, as the recent downward momentum in terms of freight earnings keeps hold, it will continue being a negative factor in terms of volume. All-in-all, given that buying appetite still exists and remains fairly robust, we may well see strong activity levels re-emerge in the upcoming period. On the tanker side, transaction volumes remained on a positive orbit, given the “good” number of deals coming forward as of late. Inline with the newbuilding market, we see activity being skewed towards the smaller size segments (especially that of the MRs). Moreover, as we move towards a more fervent (and less volatile) freight market, we may well expect the SnP market to remain on a bullish trajectory for a prolonged period”.
In a separate weekly note, shipbroker Banchero Costa added that “in the dry sector Greek Owners sold the EKATERINI 173,000 dwt built 2012 Bohai for a price around $30/31mln (SS due 2027). In the Panamax sector, Japanese owners sold the BONANZA YR 76,000 dwt built 2006 Tsuneishi Japan (BWTS fitted) on private basis for a price in the region of $16.5mln. The Ultramax ULTRA ALPHA 64,000 dwt built 2015 New Times (BWTS fitted) was inviting offers last week and she allegedly received only few bids with the highest around mid $26mln, she was eventually withdrawn from the market. The Japanese Supramax SOPHIA K 56,000 dwt built 2011 Mitsui (BWTS fitted) was sold for $23mln to undisclosed Buyers and the Chinese built CRETE TRADER 53,400 dwt built 2009 Zhejiang (BWTS fitted) was sold for low $16mln to Middle Eastern Buyers. Few smaller and vintage Handysize changed hands recently with the MARIA L about 28,400 dwt built 1998 Hakodate was sold to Lebanese for $7.3mln basis SS/DD due, the A RACER 26,000 dwt built 1996 GSI (BWTS fitted) was sold for $6.9mln to Middle Eastern Buyers and the QUANTRA 18,000 dwt built 2000 INP (South Korea) was sold for $6.25 to undisclosed Buyers. In the tanker market demand outstrips the number of sales candidates driving prices upwards, a trend we have been noticing for a few weeks now. In the busy Aframax market the NICHOLAS 115,000 dwt built 2007 Sasebo was sold to Chinese Buyers for a price in the high $27mln basis SS passed and BWTS fitted.
The ARISTODIMOS 113,000 dwt built 2006 Samsung (BWTS fitted) fetched a price of $26mln, buyers are reported as Chinese. The ORACLE 105,000 dwt built 2008 Sumitomo was sold to undisclosed for a price in the low $28mln. In the product tanker sector, the GRAND 50,000 dwt built 2008 SPP (BWTS fitted) was sold to undisclosed for $19.5mln, a few weeks ago the sister SUNNY BAY was sold for high $17mln. Other two MR2 changed hands, the JAL UPASANA and JAL SASVATA 46,900 dwt built 2006 and 2009 respectively NAIKAI ZOSEN for an enbloc price of $33.5mln; the JAL SASVATA includes a TC attached to ST Shipping till Oct 2022 / March 2023 at a rate in the low/mid $12,000/d. In the container market, MSC is reported behind the purchase of the JUDITH SCHULTE and JOHANNA SCHULTE 9,400 teu built 2013 JIANGNAN for a price of $130mln enbloc”.
Meanwhile, things appear to have slowed down in the newbuilding market. Allied said that “the newbuilding market moved on a relatively modest mode for yet another week, given the fair fresh projects taking shape as of late. In the dry bulk sector, things continued to hold in slumber, with just a single order for a couple of Ultramax units emerging this past week. Thinking about the recent pressure being noted in the spot freight market, coupled by the current newbuilding prices, this came hardly as a surprise. Notwithstanding this, given the overall sentiment surrounding this market, we can expect interest to emerge for new orders, especially after the peak summer period. In the tanker market, things appeared relatively more fervent, but with activity being skewed towards smaller size segment for the time being. At this point, only the Gas sector prevails on a more vivid tone, with numerous fresh deals for LNG units coming to light”.
Similarly, Banchero Costa noted that “with the holiday season ongoing not many Newbuildings orders were reported last week. Daewoo secured orders for 4 x 174,000 cbm LNG carriers; 2 units were booked for Iino Kaiun and 2 for Meiji Kaiun.
All vessels are expected in 2026 and 2027. Foremost Maritime ordered 2 x 185,000 dwt Capesize at Namura for dely December 2024 and June 2025. Both vessels are fixed with a long TC to NYK. CCSC Taiwan got an order from local CPC Corp for 1 x 50,000 DWT MR2. For delivery December 2024. HMM placed an order for 3 x 1,800 teu Bangkokmax design at Hyundai Mipo for delivery between May/June 2024 at $35.5mln per unit”.
Nikos Roussanoglou, Hellenic Shipping News Worldwide