On the dry-bulk front, we had a very active week, noticing three capes changing hands; Clients of Winning Shipping of China have purchased modern REGENA N (180K BLT 2006 IMABARI/JAPAN) for $33 mill & vintage CAPE AMERICA (149K BLT 1991 KAOHSIUNG/TAIWAN LDT 18448) for $8.5 mill, while clients of Chartworld of Greece bought IRON YANDI (169K BLT 1996 DAEWOO/S. KOREA) for $13.6 mill basis special survey & dry-dock passed January 2012. Tuesday, 01.May.2012, 01:20 (GMT+3)
MARKET NEWS/ RUMOURS
On the dry-bulk front, we had a very active week, noticing three capes changing hands; Clients of Winning Shipping of China have purchased modern REGENA N (180K BLT 2006 IMABARI/JAPAN) for $33 mill & vintage CAPE AMERICA (149K BLT 1991 KAOHSIUNG/TAIWAN LDT 18448) for $8.5 mill, while clients of Chartworld of Greece bought IRON YANDI (169K BLT 1996 DAEWOO/S. KOREA) for $13.6 mill basis special survey & dry-dock passed January 2012.
Chinese buyers have acquired geared panamax CHIOS JOY (68K BLT 1989 HYUNDAI/S. KOREA CR 4X25T) for $6.5 mill basis drydock due soon (July 2012).
Having being reported committed last month at $5.8 mill, Coscoâs SILVER MEI (68K BLT 1989 SASEBO/JAPAN) is again reported sold within China for $6.3 mill.
Clients of AE Nomikos of Greece is said to be the buyers of modern supramax DALIAN STAR (56K BLT 2007 MITSUI/JAPAN CR 3X30T) for the firm price of $23.5 mill basis special survey & dry-dock just passed this month (April 2012), indicating the premium buyers are willing to pay for Mitsui built supramaxes.
Ninetyâs vintage handymax MARIA TH (45K BLT 1996 TSUNEISHI/JAPAN CR 4X25T) has commanded the price of$11.85 mill from Chinese buyers basis special survey & dry-dock passed October 2011, while olderunit DAEBO FRONTIER (48K BLT 1985 NKK/JAPAN CR 4X25T LDT 8679) went for the firm price $4.7
mill (having a scrap price of about $4 mill).
Danish controlled handy ATLANTIC PROMISE (27K BLT 1986 MITSUBISHI/JAPAN CR 4X25T, LDT 5900) was snapped by Syrian buyers for $3.5 mill while exact sister SIAM SAPPHIRE (27K BLT 1986 MITSUBISHI/JAPAN CR 4X25T) went to Chinese buyers for half a million less ($3.05 mill) indicating her poor condition.
Last but not least, we picked up rumour that single-decker AYYILDIZ 7 (12K BLT 2000/JAPAN CR 4X30T) is closely negotiated at levels in excess of $6 mill.
In the Tanker segment, we had one more quiet week; Aframax TAIYOH III (95K BLT 1997 IMABARI/JAPAN, 3 PUMPS LDT 16062) has achieved the price of $9.5 mill basis special survey due this June by undisclosed interests. Unconfirmed reports suggest that Februaryâs sale of double hull vintage aframax DALMACIJA (96K BLT 1996/S.KOREA, LDT 15629) for $10 mill to clients of M3Energy of Malaysia has fallen through and she is now sold to another Far-Eastern buyer for $9.75 mill.
Hi-spec tween-screw chemical handy unit SINBAD 1786 (27K BLT 1995/SPAIN 18 PUMPS/TANKS COATED IMO III) has gone to undisclosed buyers for 6.8 mill.
Small chemical tanker GLOBAL THEMIS (11K BLT 1999 JAPAN EPOXY COATED 4 PUMPS/LINES IMO II/III DOUBLE HULL) which was dedicated to palm oil trading since new-building, has been committed to South Korean buyers for $6.75 mill. Korean buyers have agreed to pay $9.5 mill for modern stainless steel unit SPRING MISTRAL (3.8K BLT 2009 JAPAN 8 PUMPS) while larger stainless steel unit PIONEER SPIRIT (8.7K BLT 1997 JAPAN 10 PUMPS) went for $6 mill to undisclosed interests. Chemical sisters LYDIAN & IONIAN (5.5K BLT 2008 CELIKTEKNE/TURKEY) are reported sold en bloc achieving the level of $9 mill each, following last weekâs sale of sisters LUCIAN & HADA (5.5K BLT 2007/08 CELIKTEKNE/TURKEY) for $8 mill each.
Pressurized LPG carrier RED DRAGON (4K BLT 1989 JAPAN 3,514 CBM) has been purchased by Caspian Shipping of Azerbaijan for $4 mill.
In the container/mpp/tween segment, we had another slow week; Clients of Costamare of Greece continue shopping from the MISC fleet, committing en bloc 3842 teus sisters BUNGA RAYA SATU &BUNGA RAYA DUA (48K BLT 1998 DHYUNDAI/S. KOREA) for $13 mill each.
Other Greek buyers have purchased modern gearless feeder SUDMUHLE (740 TEUS 9K BLT 2008 PIELSTICK M/E) for $2.65 mill basis âas-isâ Rotterdam, Holland, where she is laid up the last 2 years. Norwegian controlled feeder ACHIEVER (510 TEUS 6.5K BLT 1992 SIETAS/GERMANY LDT 2550) found Syrian buyers that agree to pay $1.5 mill, having currently a scrap price of $1.2 mill in Subcontinent. Japanese controlled tweendecker ASIAN ROSALIE (9K BLT 1997 JAPAN CR 2X30 1X25T) was acquired by Indonesian
buyers for $3.45 mill basis dry-dock due this summer (August 2012).
BOE OCEAN (7.3K BLT 1989 CHINA ICE 1C CR 4X 15T LDT 3317) is sold for $1.7 mill to undisclosed buyers as-is Piraeus, Greece, having Turkish scrap value of about $1.2 mill.
In the Demolition sector, Bangladesh remains bullish while India is down due to overcapacity of breaking yards & lack of end-users. Sale of the week is panamax tanker BLUEFIN (14830 LDT 84K BLT 1989 B+W/DENMARK) achieving a price of $507 per lt for Pakistan. We notice 1997 German built geared container vessel DUCIA (EX FIDUCIA 7329 LDT 1651 TEUS 21K BLT 1997 THYSSEN CR 3X40T) going for scrap in India for 485 per lt, clearly indicating poor charter rates in container market.
Subcontinent sentiment is stable (same as last week) with prices ranging at $465 for bulkers, at $490 for tankers & at $490 for Tweendeckers/Containers. In other major demo-markets this week, China is also steady, paying $415 likewise for Turkey, paying $355 per lt.