With the dry bulk market inching a bit higher over the course of the past week, shipbrokers have started reporting back on the emergence of some positive vibes to the sale and purchasing market for second hand vessels. According to the latest weekly report from shipbroker Lion Shipbrokers, “although we are in the heart of the summer, as the asset prices continue to soften, we experienced a very active week with 3 panamaxes, 3 supras & 2 handies changing hands. Almost all of the units have been committed to the usual Greek and Chinese “summer shoppers”, said the shipbroker.

In particular, Lion reported that “the Chinese buyers continue to sweep nineties built panamaxes; Vogeman’s VOGE WEST (70K BLT 1995 ISHIBRAS/BRAZIL, LDT 10640) attracted $5 mill (which translates to $471 per lt) while RZS JOY (69K BLT 1995 IMABARI LDT 9804) & CSK UNITY (68K BLT 1995 SASEBO/JAPAN LDT 9861) changed hands within China for a soft $5.5 mill (having fixed & failed back in May at $8 mill) & $6 mill respectively. Remind you that at the begging of July, similar but slightly older units DURO (73K BLT 1993 HYUNDAI/S. KOREA) and THEMIS P (70K BLT 1994 SUMITOMO/JAPAN), were sold for $6.3 mill & $5.8 mill to Chinese buyers. Clients of Technomar have agreed to pay a soft $19-$19.5 mill for supramax BLUE OCEAN (57K BLT 2011 STX DALIAN/CHINA CR 4X30T), almost same level as three years older MANDARIN HARVEST (57K BLT HANTONG/CHINA CR 4X35T) sold for $19 mill also to Greeks, two weeks ago. Japanese controlled supramax BULK LEO (55K BLT 2008 MITSUI/JAPAN CR 4X30T) has attracted a firm $22.7 mill from Greek buyers (hearing clients of A.M. Nomikos or clients of Almi) compared with this month’s earlier deal of one year older sister BRIGHT MOON (56K BLT 2007 MITSUI/JAPAN CR 4X30T) for $21 mill. At an auction by sealed tender, organized by the Admiralty Marshal in Falmouth, England, clients of Eastmed of Greece were the highest bidders, paying $17.2 mill for the open hatch 8 holds/8 hatches configuration box hold supramax SANKO MINERAL (50K BLT 2008 OSHIMA/JAPAN 8HO/8HA CR 4X40T). Japanese controlled, 2-generator handy unit ATLANTIC ARROW (28K BLT 2005 SHIN KURUSHIMA/JAPAN CR 4X30T) was snapped by clients of British Bulkers of Greece for a soft $12.5 mill, while last month, one year older but similar unit BUMBI (29K BLT 2004 SHIKOKU/JAPAN CR 4X30T) was sold for $13.25 million” concluded Lion Shipbrokers.

Meanwhile, in the newbuilding market, shipbroker Clarkson Hellas noted that reported ordering this week has been exclusively focused on the Chinese yards. “COSCO Shipyards have announced a number of orders, with two firm plus two option x 82,000 DWT Kamsarmaxes contracted for KC Maritime and a two further 82k Kamsarmax for a European owner. Both orders were placed at COSCO Dalian, with delivery from the later part of 2015 and the majority to be delivered in the first half of 2016. At COSCO Zhoushan, KC Maritime have also increased their orders for 64,000 DWT Ultramax by adding two further vessels taking the total series to four. The latest additions are due for delivery in the first quarter of 2016. At New Yangzijiang, a yet unconfirmed buyer has contracted one firm 82,000 DWT Kamsarmax for delivery in late 2016. Although signed in May, it came to light this week that Densay Shipping added one further Ultramax to their series at Jinling, with three firm vessels
now on order. Delivery of the latest unit is in early 2017.

Just one order to report in the tanker market, with Nova Shipping & Logistics (Singapore) contracting two firm 34,500 DWT coated chemical tankers at Taizhou Sanfu. This order marks a return to the chemical Newbuilding market for Sanfu for the first time since 2007, with its more recent ordering focused in the bulk sector. Pricing for this deal is understood to lie in the region of USD 30 Mill per vessel, with delivery from mid-2016 onwards”, Clarkson Hellas concluded.

Finally, in the demolition market, Lion said that “subcontinent market is keeping its momentum; Pakistan seems really hungry for tonnage and is taking advantage of the Indian bad weather conditions by offering more aggressively and acquiring the majority of demo-candidates out there. China has softened even further (by $10 per lt) since last week, as the local construction industry is absorbing less & less steel, and local experts do not foresee any significant improvement in the near future. Turkey remains stable but with negative prospects (at least until the end of the Ramadan month) resulting to fewer candidates choosing Aliaga shores for their final destination”, the shipbroker concluded.