S & P

Buying interest remains strong for all ages and sizes of dry vessel.

Clients of Oldendorff have committed the M/V PAUL OLDENDORFF (74,247 dwt 2001 blt Sasebo) at US$ 11.7m to Greek buyers. The vessel attracted a decent amount of interest with reportedly around 10 buyers requesting inspection in the UK.

In the supramaxes, Clients of Good Earth Maritime have reportedly sold another supramax, namely the M/V GOOD DAY (53,000 dwt 2013 blt Hindustan) to clients of Precious Shipping at US$ 16m. This is reported to be the fifth vessel the owners have acquired from this seller, having previously taken a number of 30,000 dwt handysize and supramax vessels also built at Hindustan Shipyard.

In the Handy size bulkers the M/V JA ALADDIN DREAM II (28,611 dwt 2003 blt Imabari) reported sold at US$ 12.5m to undisclosed buyers.

Far Eastern Owners of M/V COSMOS VERDE (24,838 dwt 1999 blt Shikoku) invited offers last week and the vessel is now rumoured to have gone at levels around US$ 6m to German buyers.

There are also reports of a pair ICE A1 class handysize gearless bulkers being done on an enbloc basis - the M/V FEDERAL PROGRESS (36,790 dwt 1989 blt NKK) and the slightly larger M/V FEDERAL VENTURE (38,130 dwt 1989 blt NKK) are said to have been committed to Greek interests at US$ 5.5m.

In the Tanker second hand market, the Primorsk Shipping controlled ice 1C aframax M/T ZALIV ANADYR (103,022 dwt 2009 blt Hyundai) reported sold Transpetrol for US$ 27.1m.

The Suezmax M/T WILMINA (149,706 dwt 1997 blt Dalian) has been purchased by Avin Oil for US$12.5m.

We also understand that the VLCC DHT REGAL (309,968 dwt 1997 blt Hitachi) has been committed on Buyers subjects to Thai interests at circa US$ 23.5m.

NEWBUILDING

The Newbuilding market has remained active this week, with increasing levels of enquiry across the sectors. This has been highlighted by the continued levels of ordering, with reports of business being concluded in each of the major conventional markets including; Dry Bulk, Tanker, Container carriers and LPG amongst others. With enquiry & ordering across the major yards continuing to build, it will be interesting to see which buyers will look to take advantage of existing market levels, before some of the earlier capacity is absorbed and the supply/demand dynamics of the newbuilding market again begins to exert some upward pressures on pricing.

Looking at reported business; in the dry sector, Clients of MT Maritime Management (MTM) have placed an order for two 40,000 DWT handymax bulk carriers at Tianjin Xingang. These are the 5th and 6th vessels in a series with the first four vessels being ordered in 2011 and due for delivery in the coming months. The two new orders are planned for delivery in 4Q 2014.

It has been a couple of weeks since the last reported MR orders, however this week has seen Hyundai’s Vinashin facility in Vietnam receive an order for 2 firm plus 2 option 50,000 DWT chemical tankers from Clients of D’Amico Societa di Navigazione. Pricing is reported at USD 29 Mill, with delivery of the firm vessels in May and June 2014.

In the container market, it is understood that a joint deal between Clients of Deutsche Afrika and John T Essberger for 4 firm 2 option 2,200 TEU container vessels is very close to being concluded with Zhejiang Yangfan. Pricing is reported to be USD 26 Mill with delivery of the firm vessels in 2015 and options in 2016. An unknown Hong Kong based owner has also reportedly contracted two 700 TEU Multipurpose vessels at Jiangzhou Union. Although pricing was not disclosed, delivery is planned for

2015.

In Gas, Clients of Frontline 2012 continued a series six vessels with a further two 84,000 cbm LPG carriers at Jiangnan Changxing. Pricing is understood to be USD 63.5 Mill with delivery in May and July 2015. Additionally, Clients of Dorian (Hellas) have placed an order for two similar sized 82,000 cbm LPG carriers at Hyundai Heavy. Reported pricing is USD 72 Mill with delivery of both vessels in 2015.

In other sectors, Afai Southern Shipyard has contracted seven 2,000 GT passenger vessels with Clients of Rio de Janeiro City with delivery from 2014.