MARKET NEWS/ RUMOURS

Summer time slow down has already started with just a few sales to report. On the dry-bulk side, Japanese controlled supramax VIOLET (50K BLT 2001/JAPAN CR 4X30T) has achieved the price of $15.3-$15.5 mill by clients of Oldendorff or clients of Gurita of Indonesia, having being inspected by 20 buyers.

Mid-nineties handy PACIFIC ID (28K BLT 1995 KANASASHI/JAPAN CR 4X30T) is reportedly committed to undisclosed buyers for the firm price of $8.75-$8.8 mill. Super ice class singledecker HESPERIA (13K BLT 1991/FINLAND BOX-HOLDS) has attracted $4 mill from Russian buyers.

Japanese controlled single-decker ATLANTIS V (12K BLT 2003 SHIN KURUSHIMA/JAPAN CR 3X30T) went for $7.6 mill to unknown direction, while older unit NAVISION IVORY (10K BLT 1999 SHIN
KURUSHIMA/JAPAN, CR 2X30T DER 1X25T) has finally found Chilean buyers who paid $4.2-$4.3 mill for her.

In the Tanker segment, nineties vintage VLCC OLYMPIC LOYALTY (303K BLT 1993/JAPAN) went to undisclosed buyers for $22.5 mill. Last week’s reported sale of two prompt 51.6K MR RESALES EX
HYUNDAI MIPO SHIPYARD IN SOUTH KOREA (HULL 2176 DELY JULY 2012 & HULL 2176 DELY JULY 2012) was incorrect as Owners confirmed that they were never in the market for sale. Handy unit
SINBAD 1786 (28K BLT 1995/SPAIN DOUBLE HULL, COILED, EPOXY COATED) is again reported sold to undisclosed buyers for $6.3 mill, having being erroneously reported sold back in May for $6.8 mill
level. Three stainless steel units changed hands this week; we picked up that modern IMO 2 chemical tanker SHAMROCK VENUS (19K BLT 2006 FUKUOKA/JAPAN NITROGEN GENERATOR SYSTEM FITTED) attracted $20 mill while older units MAPLE GALAXY (19K 1998 SHIN KURUSHIMA/JAPAN) & GOLDEN JANE (16.5K BLT 2000 KURINOURA/JAPAN) went for $10 mill & $9.1 mill respectively to undisclosed buyers. Clients of APSCO of Saudi Arabia have purchased late eighties vintage KATERINA M (14K BLT 1989/S. KOREA, V-TYPE MAIN ENGINE, DOUBLE HULL) for $4.4 mill.

On the container/mpp front, Indonesian buyers have acquired older geared feeder CS CHRISTINE (20K BLT 1992/GERMANY 1388 TEUS CR 3X40T) for the scrap-related price of $3.5 mill & Japanese controlled SUMIDA (17K BLT 1997/JAPAN 1157 TEUS SS/DD FRESHLY PASSED) for $6.1-6.5 mill.

In the demolition sector, the situation in subcontinent is still weak & unstable. US dollar/Rupee exchange rates remain in historical low levels and in combination with slowdown in local steel demand & monsoons, are driving the demo-rates to even lower levels than last week. The psychological barrier of $400 per lt for a tanker was also broken this week by aframax tanker PIONEER (LDT 14164 BLT 1993 SAMSUNG/S.KOREA) as we heard rumour that she was bought by a cash buyer at level $403 per lt and then sold to end breaker for $397 per lt!

CLICK ON THE LINK BELOW TO DOWNLOAD THE FULL REPORT OF LIONS SHIPBROKERS:

http://www.seanews.com.tr/reports/lion_weekly_16_05.pdf