Best of luck to Greece at their opening game tomorrow against Colombia! Thank God that the World
Cup started in Brazil yesterday, to take our mind off of the miserable dry market as the BDI index
today is 6 points away from breaking the 900 mark; cape rates are somehow positive while panamax,
supras and handysize rates continue to suffer.
Despite the negative market climate, we understand that 4 bulkers, 2 containerships and 8 tankers changed hands this quiet post-Posidonia week. Clients of Chronos of Greece are widely reported to have purchased Japanese controlled panamax YUSHO SPICA (75K BLT 2006 IMABARI/JAPAN) for a soft $20.2-$20.5 mill basis dry-docking surveys freshly passed last month setting a new price benchmark; remind you that two months ago, her identical sister Ocean Lily (76k blt 2006 Imabari/Japan) was sold almost $3.5 mill more (region $24-$25 mill in the beginning of April).
Four year older sister MISHIMA (76K BLT 2002 IMABARI/JAPAN) was committed to undisclosed Greek interests for a soft $16 mill, when back in March similar aged unit ASPENDOS (74K BLT 2003 TSUNEISHI/JAPAN) was concluded for a whooping $21.75 mill.
These two sales illustrate a significant softening of the asset values and if the charter rates continue to deteriorate, we expect many of the recently reported deals to fall through, such as the deals of handymax C.B. ADVENTURE (46K BLT 2002 OSHIMA CR 4X30T reported sold for $16.5 mill in April) & kamsarmax GRAIN PEARL (82K BLT 2013 LONGXUE/CHINA reported sold this week for $27.5 mill) , which were circulated again open for sale in the s+p market.
Posidonia 2014 festivities are finally over today; during the past two weeks we counted about 58 maritime parties that took place in Athens & Piraeus. We would like to thank all of you that came to our event and we hope you enjoyed networking at the relaxed atmosphere of Amerikaniko Bar, listening to the funky Miami sounds of our DJ Funky Leopard.
Despite the negative market climate, we understand that 4 bulkers, 2 containerships and 8 tankers changed hands this quiet post-Posidonia week. Clients of Chronos of Greece are widely reported to have purchased Japanese controlled panamax YUSHO SPICA (75K BLT 2006 IMABARI/JAPAN) for a soft $20.2-$20.5 mill basis dry-docking surveys freshly passed last month setting a new price benchmark; remind you that two months ago, her identical sister Ocean Lily (76k blt 2006 Imabari/Japan) was sold almost $3.5 mill more (region $24-$25 mill in the beginning of April).
Four year older sister MISHIMA (76K BLT 2002 IMABARI/JAPAN) was committed to undisclosed Greek interests for a soft $16 mill, when back in March similar aged unit ASPENDOS (74K BLT 2003 TSUNEISHI/JAPAN) was concluded for a whooping $21.75 mill.
These two sales illustrate a significant softening of the asset values and if the charter rates continue to deteriorate, we expect many of the recently reported deals to fall through, such as the deals of handymax C.B. ADVENTURE (46K BLT 2002 OSHIMA CR 4X30T reported sold for $16.5 mill in April) & kamsarmax GRAIN PEARL (82K BLT 2013 LONGXUE/CHINA reported sold this week for $27.5 mill) , which were circulated again open for sale in the s+p market.
Posidonia 2014 festivities are finally over today; during the past two weeks we counted about 58 maritime parties that took place in Athens & Piraeus. We would like to thank all of you that came to our event and we hope you enjoyed networking at the relaxed atmosphere of Amerikaniko Bar, listening to the funky Miami sounds of our DJ Funky Leopard.
CLICK ON THE LINK BELOW TO READ THE FULL REPORT IN PDF FORMAT:
http://www.seanews.com.tr/reports/lion_13_june_2014.pdf