In Dry Bulk Market,Hellenic Shipping News 31/08/2016
In the S&P market, ship valuations specialist VesselsValue noted that “A number of bulker sales have been concluded this week.
It has been a slow week for Tanker sales. Within the Handy sector, the Maple Express (45,800 DWT,2002, Minami Nippon) was offloaded by Island Navigation for a USD 12.8 million on subs while Norden sold the Nord Thumbelina (38,500 DWT,2006, CSSC OME) for USD 14 million. Both firm prices on the back of a slight uptick in MR charter rates. There was one Aframax sale this week: the CSK Valiant (106,700 DWT,2003, Imabari) was sold to Waruna Nusa Sentana for a firm USD 17.5 million from TCC Group. There are no second-hand sales to report in the container market this week and all values are down as rates continue to fall”, said VesselsValue.
Nikos Roussanoglou, Hellenic Shipping News Worldwide
Shipowners’ appetite for dry bulk carriers, mainly Japan-built, has continued unabated over the course of the past few weeks of activity. The same can be said in general for the newbuilding ordering market, which appears to have picked up pace as of late. In its latest weekly report, Allied Shipbroking noted that “things have held fairly better then most would have had anticipated for the summer season. There has been a slow but fairly constant trickle these past weeks of new orders being reported and this being despite the fact that there are now few if any market sectors which show any positive sentiment as to their prospects. The new prices have played a fair role in this, though not to the extent that most shipbuilders would have held hopes for. The struggle to retain an feasible orderbook continues for the large majority of shipbuilders and as we move into the final quarter of the year, competition amongst them showed start to intensify further. The next couple of months will likely prove key as to which shipbuilders are able to stay afloat and which will have to make an early exit, in most cases likely being absorbed in some part into larger more competitive and efficient shipbuilding groups”, Allied said.
Meanwhile, in a separate newbuilding report, Clarkson Platou Hellas said that “in Tankers, Japan Maritime United Corporation (JMU) have taken an order for two firm 320,000 DWT VLCCs from JX Ocean. These will be built from JMU’s Ariake facility and delivered in 2018. JMU have also signed a contract with another Japanese owner Kyoei Tanker for a single 311,000 DWT VLCC for delivery within 2018. This vessel will be the 2nd vessel in series. From China, Zhejiang Shenzhou are reported to have received an order from Sinanju Marine Services for two firm 6,000 DWT Product Tankers. The duo are set for delivery in 2017. Whilst there is nothing to report for Dry or Gas previous week, there is one order to report in the container market. Nordic Hamburg Shipping are reported to have placed an order at Huangpu Wenchong for a series of four firm plus two optional LNG dual fuel 1,400 TEU Container Carriers. Although coming to light now, this order is understood to have been placed earlier this year. The vessels will have LNG dual fuel propulsion and will delivery in 2018. This will be a replacement order of the two firm plus two optional 1,400 TEU Container Carriers at Yangzhou Gouyu shipyard Nordic Hamburg had placed previously. In other sectors, Matson Inc have announced an order for two firm 3,500 TEU / 800 car RORO-Container vessels at General Dynamics NASSCO. These vessels will be built to be LNG fuelled and will deliver in 2019 and 2020 respectively. Finally, COSCO Southern Asphalt have announced signing a contract with Chengxi Shipyard for four firm 7,500 DWT Asphalt & Bitumen Carriers for delivery in 2018”, Clarkson Platou Hellas concluded.
Three Capesize sales have been concluded, the Tigerlily (169,200 DWT,2008, Daehan) and the Monegasque Eclat (177,000 DWT,2006, Namura) were sold En Bloc to Sinokor Merchant Marine by Eco Dry Ventures for a firm USD 15.9 million and USD 13.1 million respectively. The Shin Heiryu (203,300 DWT,2003, Universal) was offloaded by NYK Line for USD 10.4 million stabilising early 2000 Capesize values. One Panamax sale was done this week, the Mighty Sky (81,500 DWT, 2010, Universal) was sold by Mitsubishi Corporation to BW Maritime for USD 14 million. Within the Ultramax sector two sales have been concluded, Setaf Saget have sold the JS Rhin and JS Loire (63,500 DWT,2012, Dayang Shipbuilding Co) En Bloc for USD 12.75 million each. Two Supramax sales to report, the Nemtas 1 (50,100 DWT,2001, Mitsui Ichihara) was sold by Nemtas Nemrut Liman for USD 4.4 million. The Temara (53,600 DWT,2007, Chengxi) was offloaded by Ership for USD 5 million. There was minimal handymax activity this week, only the NOSCO Victory (45,600 DWT, 1996, Hashihama Tadotsu) was sold by NOSCO for USD 2.1 million. A Handy bulker the Wan Yang 36 (38,200 DWT,2011, Jiangsu Mingyang) was sold at auction for USD 6.75 million pushing down new handy values slightly.
Similarly, Allied Shipbroking noted that “on the dry bulk side, activity continues to hold firm, with a good number of vessels changing hand this week. It seems as though a number of buyers were keen to make some quick purchases before any further price hikes were to be noted. For the time being the market has been holding fairly stable in terms of prices being seen, though if this level of activity continues to hold it shouldn’t be long before we start to note further price hikes in most size and age segments. On the tanker side, things continue to be fairly subdued, with focus again this week circulating around the product tanker ranges. The recent trends in the freight market have played an important role in deterring most buyers from making any haste moves, though with asset prices having seen notable discounts over the past months, it is not as if all buyer interest has completely left the market just yet”, the shipbroker concluded.
Nikos Roussanoglou, Hellenic Shipping News Worldwide
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