Ana sayfa Haberler Finans ve Piyasa Dry bulk prices going up, tanker sales slowing

Dry bulk prices going up, tanker sales slowing

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BDI has been stabilized 650 points since May 2016. When we compare August sales with previous month, dry bulk vessels prices have been going up but the wet side, prices were opposite.

We observed that there is an appetite on buying new tonnage when we compare last month’s sale. Owners of MV’Tan Binh 234′ (32000 dwt / 2006 Japanese blt) bought her around usd 5.2 mln in the beginning of 2016 and sold her this month at 7.2 mln with handsome profit.

Dry bulk vessels have faced extreme distress in recent years. With a combination of factors including newer vessels being ordered with up to 5-year lead times and oil and commodity prices falling globally, owners have been in panic. Most of the owners did not anticipated the crash of commodities followed by oil falling to usd 40 p/b and making it even more difficult to run the vessels. As such, there is too much old tonnage on the waters floating around that warrant maintenance and work, compounded with many unclaimed new vessels awaiting transfer of ownership.

Regarding tanker side, the impact of much higher fleet growth this year is being amplified by the slowing demand condition. Additionally the market has also returned to normal freight rates with respect to congestion with little support from port delays compared to earlier 2016. The coming year earning remains under pressure due to above reason.

In capesize sector, Mustang (180.000 dwt, 2016 Chinese blt) was obtainedusd 32 mln. 7 years old Chinese  sisters Zosco Jiaxing and Shaoxing were sold usd 14.9 mln each.

Panamaxes always keep holding their value, Japanese owners just sold their vessel “Atlas Island” (76,500 dwt; built in 2008 at Imabari) for US$ 9.5 million. The level achieved is in line with last done “Kilian S” (56,794 dwt built 2010 Jiangsu Hantong) for US$ 7 mill. We understand that the “Maemi Pioneer” (53,505 dwt built 2007 Iwagi) has been sold for region US$ 8 million.

An array of older Greek Panamaxes is being sold to Chinese owners, “OCEAN LIFE” (75,318 dwt, Built Universal 2003) for around US$ 5 million, “CORONADO” (75,706 DWT, Built Sanoyas 2000) at US$ 4.2 million and “NORTH PRINCE” (73,518 dwt, Built Mitsui 1999) for US$ 3.65 million. A number of Panamax units are being reported sold this week, starting with the oldest, M/V “NORTH PRINCE” (75,542 DWT/Built 1999 at Mitsui Chiba Ichihara) is reported to have been sold for $3.65 mill. to Chinese buyers.

The Supramax M/V “E.R. BARCELONA” (55,783 DWT/Built 2010 Hyundai-Vinashin) has been reportedly sold to Greek Buyers for a price in region of $9 Mill. which shows how the market has moved up since March when two similar size (but 2013 built) sister units were sold for basically same value. Another Supramax bulker, the M/V “SUNBAY” (56,843 DWT/Built 2008 Jiangsu Hantong) reportedly obtained a price of $5.7 mill.

Handymax “OCEAN KING D” (47,314 dwt, Built Miniami Nippon 2001, cranes 4 x 30 tons, B&W) is concluded at US$ 3.5 million with ss due 11/2016; “JIN BI” (48,220 dwt, Built Oshima 2000, cranes 4 X 30 tons with 10 cbm grabs, Mitsubishi) went for US$ 3.8 million with a more favorable ss – due 5/2020.

In the handy sector, “TAN BINH 234” (32,936 dwt, Built Kanda 2006, cranes 4 x 30 tons, Mitsubishi) has been sold for US$ 7.2 million; Sellers paid US$ 5.2 million for her only six months ago. “AROMA” (28,509 dwt, Built I-S Shipyard, Japan 2009, cranes 4 x 30 tons, MAN-B&W) has obtained US$ 6 million. The Handysize vessel “Newlead Castellano” (35,542 dwt; built in 2013, Taizhou) has reportedly been sold via auction in Georgia, USA to undisclosed buyer for US$ 7.4 mill. n tanker side, VLCC Kaminesan (303.000 dwt, 2003 Japanese blt) was sold usd 32 mln and two years olders Korean blt sister Genmar Victory and Vision were acquired usd 28 mln each.  The Hong Kong controlled Aframax “CSK VALIANT” (107,000 dwt, Built Imabari 2003, coiled, 3 pumps, B&W) has been purchased by Indonesian buyers for around US$ 17.5/18 million. An older Aframax, “GREAT WHITE” (104,024 dwt, Built Samsung 1999, coiled, 3 pumps, MAN-B&W) has obtained US$ 13 million from Onex DMCC. An earlier sale in March at US$ 15 million did not go through.

Stainless steel chemical tanker “PRIME SKIPPER” (9,070 dwt, Built Asakawa 1991, IMO II/III, 18 tanks/pumps, Mitsubishi) has been sold for US$ 3.5 million (the same price the current sellers paid for her in 2011). It seems to be a poor appearance of vessels over the past week with a very rarely new orders being noticed as we are facing to the peak of summer season in Europe. However, as the prices were still in competitive condition and kept going downward, we will hopefully witness a movement for Tanker sector being placed in the short term.

In terms of recently reported transactions, Almi Tankers, Greek ship owner, has placed an order of 2x 317,000 dwt VLCC with Hyundai Heavy Industries. Delivery set in February and April 2018 from its Samho yard. Price is undisclosed but expected to be in the high US$ 80 million. In demo market, Sub continent market price fluctuate between usd 250/280 per tonnes and we will witness new candidates in coming months.  You can find below some in formation abt last months sales which we chose for you.

İKİNCİ EL

STAR MONISHA

BC

SINGLE DECK CARRIER, DOUBLE BOTTOM, DWT 164218 MTS, BLT 7/2001 TAIWAN, GRT 85957, LOA 288,15M, M/E MAN-B&W 6S70MC, LDT 23.961,00TS

SOLD FOR USD 6.900.768,00 /LDT

Federal I

OFFSHORE

FSO, OIL, DWT 149235 MTS, BLT 6/1982 JAPAN, PUMPS 3X12000, M/E SULZER 7RLA90, LDT 24.550,00TS

SOLD FOR USD 5.032.750,00 /LDT FOR DELY PAKISTAN

BOX HONG KONG

CONTAINER

DWT 67637 MTS, BLT 12/1995 KOREA, SOUTH, TEUS 5344, M/E SULZER 12RTA84C, LDT 24.061,00TS

SOLD FOR USD 6.857.385,00 /LDT

BOX CHINA

CONTAINER

DWT 67625 MTS, BLT 3/1996 KOREA, SOUTH, TEUS 5344, M/E SULZER 12RTA84C, LDT 24.073,00TS

SOLD FOR USD 6.860.805,00 /LDT

SEASPAN EXCELLENCE

CONTAINER

DWT 63160 MTS, BLT 6/2003 JAPAN, TEUS 4646, M/E SULZER 9RTA96C

SOLD

SEASPAN EXPEDITOR

CONTAINER

DWT 63098 MTS, BLT 8/2003 JAPAN, TEUS 4646, M/E SULZER 9RTA96C, LDT 21.563,00TS

SOLD FOR USD 6.059.203,00 /LDT

Mol Express

CONTAINER

DWT 63046 MTS, BLT 11/2003 JAPAN, TEUS 4646, M/E SULZER 9RTA96C, LDT 21.615,00TS

SOLD FOR USD 5.965.740,00 /LDT

Hs Beethoven

CONTAINER

DWT 58213 MTS, BLT 12/2002 KOREA, SOUTH, TEUS 4389, M/E MAN-B&W 9K90MC-C, LDT 19.290,00TS

SOLD FOR USD 5.304.750,00 /LDT