MARKET NEWS/ RUMOURSBulkers: There is a light breeze of optimism gently blowing over the shipping circles as many believe
that the worst has probably passed & 2013 will not be too bad. In this respect, the second hand market
remains very active as asset values seem to be reaching the bottom. We are hearing of a plethora of
buyers out there inspecting tonnage (especially Japanese built) of all ages & sizes.
Flavour of the week is the sale of Japanese controlled panamax IVS MERLOT (76K BLT 2005
TSUNEISHI/JAPAN) for a punchy $16 mill to Greek buyers (hearing clients of Chartworld or clients of
EF Shipping) waiving inspection. Remind you that same age/size OCEAN PLANET (76K BLT 2005
SASEBO/JAPAN) has attracted one million less one month ago (about $15 mill). Mid-nineties panamax
JAG ARNAV (71K BLT 1995 NAMURA/JAPAN) has been snapped by Chinese buyers for $5.8 mill.Japanese controlled supramax TRITON LARK (56K BLT 2005 MITSUI/JAPAN CR 4X30T) has been
committed for $16-$16.5 mill to clients of Pacific Basin, having been inspected by numerous buyers,
including many Greeks. Her younger sister TRITON SWIFT (56K BLT 2006 MITSUI/JAPAN CR 4X30T)
is reported sold to clients of Oslo-based Eastern Bulk for $17 mill. Indonesian buyers are reported to
have paid a firm $16.25 for off-market supramax ACE GATE (56K BLT 2005 MITSUI/JAPAN CR
4X30T). These three sales are evidencing that Buyers are willing to pay a premium for 10 year old
Mitsui built supramaxes. Greek buyers have purchased Japanese controlled handymax SALAMANCA
(46K BLT 2000 KANASASHI/JAPAN CR 4X30T) for $9.5 mill, one million less than her exact sister
TARAPACA sold one month ago for $10.5 mill. Smaller handy ECO PROSPERITY (18K BLT 1995
SHIKOKU/JAPAN CR 3X30T) has attracted $4 mill from Turkish buyers basis her dry-docking due.Tankers: In an off market deal, aframax PACIFIC ALLIANCE (105K BLT 2004 HYUNDAI/S. KOREA)
has been acquired for $19.5 mill by clients of Bakri Navigation of Saudi Arabia. We understand that
late nineties panamax PACIFIC HARMONY (79K BLT 1999 NAMURA/JAPAN) is fixed on long subs (to
be lifted in May) to clients of Bumi Armada Offshore of Malaysia at a price of $9.8-$10 mill. In a bank
enforced deal, clients of private equity fund Oaktree of U.S.A. have purchased en bloc five modern MR
sisters for $135 mill namely TORM AGNES/TORM AMALIE (50K BLT 2011 GUANGZHOU/CHINA) &
TORM ASLAUG/TORM ALMENA/TORM ALICE (50K BLT 2010 GUANGZHOU/CHINA) averaging to $27
mill per unit. European buyers have agreed to pay region $14-$14.7 mill for stainless steel handy
GINGA LANNER (20K BLT 2002 KURUSHIMA/JAPAN) while Far Easterners bought smaller stainless
steel unit EASTERN DHARMA (10.7K BLT 1999 AKASAWA/JAPAN) for $7.7 mill. Super ice class
BROVIG FJORD (8.1K BLT 2008/RUSSIA) has been sold to clients of OW Bunker of Denmark for $6.9
mill.Demolition: Sentiment is stable in Subcontinent. Bangladesh and Pakistan market are paying $405-
415 for bulkers, $420-$430 for tankers & $425-$430 for container vessels. India is up $5 dollars,
currently paying $405-415 for bulkers, $420-$425 for tankers and $425-430 for containers. China
remains stable, paying $385-$390 for bulkers, $390-$395 for tankers and $390-$395 for containers.
Turkish market is firming due to lack of tonnage, paying $305-$315 for bulker, $315-$325 for
tankers and $310-$320 for containers.CLICK ON THE LINK BELOW TO READ THE FULL REPORT IN PDF FORMAT:
http://www.seanews.com.tr/reports/Lion_Weekly_08_March_2013.pdf
http://www.seanews.com.tr/reports/Lion_Weekly_08_March_2013.pdf