Bulkers: The BDI’s downward trend reversed by the end of this week and is currently floating just above the psychological level of 1500. See the detailed report in PDF format.
Bulkers: The BDI’s downward trend reversed by the end of this week and is currently floating just above the psychological level of 1500. This volatile freight market is certainly not discouraging prospective buyers and especially the Greek players who continue to dominate the dry bulk second hand market, chasing Japanese built tonnage of all shapes and sizes. In an off market deal, clients of Oceanbulk of Greece continue to show their faith in the cape market; They purchased caper SHIGA (179K BLT 2006 NAMURA/JAPAN) for $28 mill while two weeks ago they have bought her one year older sister ATLANTIC BRIDGE (177K BLT 2005 NAMURA/JAPAN) for similar price ($27.5 mill- $28 mill basis forward delivery). Clients of Omicron of Greece (who, as per Equasis database, are not managing any ships currently) are the buyers of the Japanese controlled BOTAFOGO (76K BLT 2001 IMABARI/JAPAN) for $14.6 mill. The price is in line with recent sale of SEA OF HARMONY (76K BLT 2001 TSUNEISHI/JAPAN) at similar level ($14.65) In another off market deal, Tolani of India have disposed their panamax PRABHU PUNI (76K BLT 2002 TSUNEISHI/JAPAN) to Greek buyers for $15 mill, in line with recent sale of her sister RED SETO (76K BLT 2002 TSUNEISHI/JAPAN) for $15.3 mill. Clients of Apeejay of India are reported to be behind the off-market deal of Tomasos’ panamax ALDEBARAN ONE (74K BLT 2000 HUDONG/CHINA); despite her Chinese built, a firm price of $12.5 mill was agreed, almost same level as the recent sale of Japanese built Sunny Pride (74k blt 2000 Imabari/Japan) for $12.9 mill. Early 90’s vintage handymax ARGONAUT (43.5K BLT 1991 TSUNEISHI/JAPAN CR 4X30T LDT 8081) has attracted a strong $5mill from Greek buyers, having a scrap value of $3.4 mill nowadays. Japanese controlled handysize SOUTHERN FIGHTER (29K BLT 1998 SHIN KURUSHIMA/JAPAN CR 4X30.5T) has gone to Greek interests for a solid $9 mill, compared with the sale of one year older unit PACIFIC BULKER (27.8K BLT 1997 KANASASHI/JAPAN CR 4X30.5T) for $7.8 mill (reported in the beginning of October). Sinotrans’ handy sisters GREAT SUCCESS & GREAT GAIN (27K BLT 1998 GUANGZHOU/CHINA CR 4X30T) were committed en bloc for $12.6 mill to Taiwanese interests, basis prompt delivery with their surveys due. Japanese controlled small handy KEN UN (23.6K BLT 1996 SAIKI/JAPAN CR 4X30T) changed hands for a firm $6 mill, almost same price as mid-October’s sale of one year younger VOGE FELIX (24K BLT 1997 HAKODATE/JAPAN CR 4X30.5K) sold for $6.2 mill. CLICK ON THE LINK BELOW TO READ THE FULL REPORT IN PDF FORMAT:http://www.seanews.com.tr/reports/lion_01_november_2013.pdf
