As summer draws near, tanker rates have started to show a declining trend. It’s worth noting Saudi Arabia’s decision to reduce oil production by 1 million barrels per day starting 23 July, a move that could further depress the market. The primary sales and purchase activity this month was concentrated on older tankers.
Earnings from dry freight have been somewhat stagnant for a while. However, we observed a slight uptick in spot rates for Capesize bulk carriers last week, which could provide a positive signal for the market. We’ll continue to monitor the situation, but it’s important to mention that, in general, dry vessel prices remain high relative to their modest earnings.
Please find below a list of vessels reported as sold in the past three weeks, since our previous report:
TANKERS:
VLCC “MARIA P. LEMOS” (319,191 dwt, 2018 Hyundai H.I, built ) Double Hull Tankers is paying USD 94.5 M.
Suezmax, “FRONT NJORD” (156,760 dwt, 2010 Jiangsu Rongsheng built DD due Nov 23 ) is sold for USD 44.5 M, “RIDGEBURY JUDITH” (150,393 dwt, 2008 Universal built ) is sold for high USD 30 M
LR2 “STAR PROSPERITY” (115,098 dwt, 2009 Sasebo Japan built) is sold for USD 43 M, “WONDER MUSICA” (106,290 dwt, 2004 Hyundai H.I. built) has managed to get USD 24 M
Aframax “EVERGLADES” (112,969 dwt, 2008 New Times China blt) is sold in excess of USD 39 M, “ADAFERA” (105,215 dwt, 2004 Sumitomo Jpn blt, ss due 2024) and sister “ASHAHDA” (105,221 dwt, 2004 blt, ss due 2024) sold for USD 30.2 M each. “PETROATLANTIC” (92,968 dwt, 2003 Samsung Korea blt, DP2) has obtained USD 19 M -she will be used as a floating storage vsl.
LR1 “BOWFIN” (74,994 dwt, 2008 Minaminippon blt, ss due 10/2023) is sold at USD 25 M, “LAKE STURGEON” (74,993 dwt, 2007 Onomichi Jpn blt, ss passed 2022) and her sister “GOLDEN SHINER” (74,999 dwt, 2007 Onomichi Jpn blt, ss due 2027) are sold at USD 27 M each. “AMAZON BEAUTY” (72,910 dwt, 2004 Hyundai H.I. Korea blt, ss due 2024) has managed to obtain USD 19.5 M
(6,525 dwt, 2009 Pha Rung Vietnam Blt, IMO II, ss due 2024) is sold for USD 6.8 M and “AKRI” (6,137 dwt, 2008 Nakatani blt, IMO II/III ) has been sold for region USD 8.7/8.8 M
GAS:
VLGC “GLOBAL SCORPIO” (80,530 cbm, 2003 Hyundai H.I. Blt DD due 2023) has gone at USD 47.5 M
Stealthgas has sold their ice class and pressurized “ECO DREAM” and her sister “ECO GREEN” (5,000 cbm, 2015 STX Busan Blt, Ice 1B ) at rgn USD 17 M
BULKCARRIERS:
Capesize “HERUN ZHOUSHAN” (181,056 dwt, 2017 Blt, ss due 2027) and her sister “HERUN ZHEJIANG” (2017 blt) have been sold to at USD 41.5 M, “ZAMPA BLUE” (178,459 dwt, 2011 Blt) is sold at USD 30 M to a Greek buyer, “ATLANTIC TIGER” (180,182 dwt, 2006 Imabari Jpn blt , ss due 2024) has gone at USD 17.25 M
Kamsarmax “JY BULK” (81,112 dwt, 2018 Chengxi Blt, ss due 2023) has been sold via Chinese online auction at USD 28.49 M to Chinese buyers, “DANHIL” (81,354 dwt, 2012 Sungdong Korea blt) is sold for USD 23.5 M, “MAGIC TWILIGHT” (80,700 dwt, 2010 STX Jinhae blt) is concluded at USD 17.8 M
Panamax “GREAT WENCHAO” (75,552 dwt, 1999 Mitsui Japan blt, ss due 2027) Chinese buyers paid USD 7.1 M, “HANABUSA” (77,247 dwt, 2007 Sasebo Blt) is sold but the price is undisclosed.
Ultramax “GREAT VENTURE” (61,056 dwt, 2019 Dalian Cosco blt) Greek buyers purchased the vsl via chinese online auction and paid USD 30.03 M, “KMARIN MELBOURNE” (63,194 dwt, 2015 Jiangsu New Hantong Blt, ss due 2025) is sold to Greek buyers but the price is undisclosed.
Supramax “ARKADIA” (56,348 dwt, 2012 Hyundai-Vinashin Blt, ss due 2027) and sister “KUMPULA” (2012 Hyundai-Vinashin Built – ss due 2027) is sold for USD 17 M each.“WOOYANG ELITE” (55,660 dwt, 2011 Hyundai Mipo Blt , ss due 2026) is sold but the price is undisclosed. “CF DIAMOND” (57,700 dwt, 2016 Tsuneishi Japan Blt) has gone for USD 23 M, “NORD TREASURE” (55,888 dwt, 2014 Mitsui Japan blt) is sold to Far Eastern buyer at USD 21.5 M, “ARTEMIS A” (57,000 dwt, 2011 Qingshan Shipyard China blt, ss due 2027) sold to Turkish buyers at USD 16.5 M, “AMERICAN BULKER” (36,228 dwt, 2016 Shikoku Dockyard Blt) is sold to Turkish buyers at USD 23 M.
A newbuilding resale basis delivery ex-yard 4Q this year, JIANGMEN NANYANG 616 (40,500 dwt) sold to German buyers at USD 32 M. “SUPER EMMA” (37,277 dwt, 2008 Saiki H.I blt ) is sold at rgn USD 14 M, “SEASTAR ENDURANCE” (34,290 dwt, 2011 Zhejiang Jingang China blt, ss due 2026) has gone at USD 11.75 M, “STRAITS BREEZE” (31,612 dwt, 2009 Saiki H.I. blt, ss due 2027) has received USD 13 M from Turkish buyer, “AGIA IRINI “ (28,207 dwt, 2013/ Imabari Jpn, ss due 2026) Buyers are paying USD 13.8 M
CONTAINERS:
“AS EMMA” (4,256 TEU, 50,353 dwt, Jiangsu Newyangzi 2010 Blt, ss due 2025) is sold at USD 22 M with delivery in November
“CARLA-LIV” (1,730 TEU, 23,026 dwt, 1999 Szczecin Blt, ss due 2024) is sold to Turkish buyers for USD 7.7 M with a timecharter to MSC at US$ 24,500 pd until May 2024. “SITC KAWASAKI” (1,708 TEU, 21,992 tdw, 2007 Imabari Blt, gless) is sold to Singapore buyers,
NEWBUILDING:
VLCC – Dynacom has contracted 2 x 300,000 dwt VLCCs at New Times basis delivery 4Q 2026 at USD 115 M each
Suezmax – Teodor Shipping, UAE has contracted 2 x158,000 dwt at Samsung at US$ 86 M per vessel basis delivery end 2025 / beginning 2026.
LNG 160,000 cbm – Two vessels ordered at Samsung for a/c Chevron basis delivery 2/2028 at price of USD 259 M per vessel
LR2 tankers – 2 firm + 2 option x coated 115,000 dwt tankers ordered at GSI, China by Eastern Pacific basis delivery of the first unit in March 2026. Navios has contracted 4 firm + 4 option LR2s at Zhoushan Changhong. Stanford Marine has signed 2xLR2s at the same builder – price region. USD 63.5 M per vessel.
Post Panamax – 1 x 95,000 dwt / 38m beam ordered by Mitsui OSK at Oshima; the vessel will have LNG dual-fueled propulsion and will carry coal for Kansai Electric Power; basis delivery 9/2026.
Kamsarmax – Lepta Shpg of Japan has ordered 10+2 x 82,000 dwt Kamsarmax bulkers at Yamic, China basis first delivery 1/2026 with prices at USD 37 M per vessel.
MR2 tankers – Chemnav Shipmanagement has ordered 2 x 50,000 dwt MR2 tankers at K Shipbuilding, Korea with price at USD 47 M each basis delivery 3Q 2025. Target Marine has contracted 2 x MR2 tankers at Zhoushan Changhong basis dely 2026.
MR1 chem/prod tankers – two high spec Ice 1A units of 37,000 dwt ordered at Hyundai Mipo for a/c Algoma Central, Canada for delivery by 3/2025, enbloc price USD 95.9 M
Ultramax – Alpha Bulkers has placed 2 x 63,600 dwt Ultramax bulkers at Cosco SHI Zhoushan basis delivery 3Q 2025 at USD 32.5 M per vessel.
Handymax 42,000 dwt – Meadway Shipping has ordered 1 x 42000 dwt bulker at Oshima at USD 33 M basis delivery early 2026.
Stainless – Tune Chemicals of Rotterdam has placed 2 firm +2 option x 16,000 dwt methanol- fuelled chemical tankers at Tersan, Turkey basis dely 2025.
Newcastlemax 210,000 dwt – CMB has repeated their already substantial order for this type with contracts at Qingdao Beihai for 2 more Newcastlemaxes basis delivery in 2026
Containers 1,450 TEU – Seaboard Marine, Miami has placed 2 firm + 2 option container vsls order at Nantong CIMC basis delivery 2025 at the price USD 35 M each –
6 x 1250 TEU, methanol dual fuel main engine – Xpress Feeders have contracted at Huangpu Wenchomg basis delivery from September 2025 until July 2026
Roros – Grimaldi has further expanded its orderbook for PCTCs in China by declaring an option for 2 x 9,000 CEU PCTCs at SWS priced at USD 90 M each with 2026 deliveries.
DEMOLITION: Bulkcarriers:
“HONG HAO” LDT 11,821 DWT 44,596 1998 built Price/ldt: tba Bangladesh, “FU SHENG” LDT 10,780 DWT 77,447 1994 built Price/ldt: USD 580 Bangladesh (includes 380 mt bunkers rob), “HC BEAUTY” LDT 9,502 DWT 73,744 1999 built Price/ldt: USD 530 as is Hong Kong, “ETERNAL LUCK” LDT 7,525 DWT 45,654 1996 built Price/ ldt:USD 575 Bangladesh (includes 260 mt bunkers rob), “ZE RUI I” LDT 7,488 DWT 45,279 1999 built Price/ldt: USD 575 as is Zhoushan, “JASMINE II” LDT 9,563 DWT 45,269 1997 built Price/ ldt USD 573 Bangladesh,
MPP:
“HONG HAO” LDT 11,821 DWT 44,596 1998 built Price/ldt USD 620 Bangladesh
Containers:
“MISSISSAUGA EXPRESS” LDT 15,644 DWT 40,881 1998 built Price/ldt: USD 380 Turkey, “OTTAWA EXPRESS” LDT 15,644 DWT 40,879 1998 built Price/ldt: USD 380 Turkey, “MILAN EXPRESS” LDT 14,161 DWT 33,659 1996 built Price/ldt: USD 380 Turkey, “MAERSK ATLANTIC” LDT 5,914 DWT 17,733 1999 built Price/ldt: tba India, “MSC KERRY” LDT 15,580 DWT 45,530 1995 built Price/ldt tba Bangladesh,
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