MARKET NEWS/ RUMOURS
The dry market is still not showing any direction, confusing shipowners, shipbrokers and shipping analysts alike; however we recorded numerous deals (one post panamax, one panamax, 3 supramaxes and three handies changed hands) for one more week, as buyers are keeping the faith, hoping for market improvement in the near future. Asset values are showing correction, meantime Japanese built vessels continue to be Buyers’ number one choice, usually commanding a solid premium in their fixing price.
Bulkers:
Japanese controlled post panamax beam SHIRAKUMO (87K BLT 2006 IHI/JAPAN) is reported sold to Greek buyers (clients of Oceanbulk) for $22 mill, as her owners were originally aiming at $24 mill. Remind you that last week, same age but panamax beam unit GRAND CHALLENGER (82K BLT 2006 TSUNEISHI/JAPAN) went also to Greeks for $25 mill. Nineties vintage Japanese controlled panamax PLEIADES (68K BLT 1997 IMABARI/JAPAN) with good survey positions was acquired by Chinese buyers for $9 mill, in line with end April’s deal of CORONA ACE (77K BLT 1994 KAWASAKI/JAPAN) for $6.8 mill. Thai buyers (clients of Thoresen) have purchased Japanese controlled ORIENT ROSE (56K BLT 2006 MITSUI CR 4X30.5T) for $22 mill (in line with last week’s sale of ATLANTIC ADVENTURE (55K BLT 2006 OSHIMA CR 4X30T) for $22.5 mill), while three years younger unit KOMATSUHIMA STAR (55K BLT 2009 KAWASAKI/JAPAN CR 4X36T) went for excess $25 mill levels to undisclosed interests (two million less than April’s sale of PACIFIC IRMA (58K BLT 2010 TSUNEISHI/PHILIPPINES CR 4X30T) for $27 mill. Handy logger GREAT LEADER (33K BLT 2004 OSHIMA/JAPAN CR 4X30T) attracted low $14 mill, one million cheaper than one year older similar unit FLEX SHINE (32K BLT 2003 KANDA/JAPAN CR 4X30.5T) which was reported sold last month for $15 mill).
Demolition:
Subcontinent markets are bullish, acquiring as much tonnage as they can, before the monsoon rainy season starts (June to September, when we expect subcontinent to slow down). India is on fire, as cash buyers are offering levels in excess of $500 per Lt, especially for tankers & containers. Pakistan is keeping pace with slightly softer levels, while Bangladesh is steadily below the $500 mark but is still managing to offer “healthy” rates.
The dry market is still not showing any direction, confusing shipowners, shipbrokers and shipping analysts alike; however we recorded numerous deals (one post panamax, one panamax, 3 supramaxes and three handies changed hands) for one more week, as buyers are keeping the faith, hoping for market improvement in the near future. Asset values are showing correction, meantime Japanese built vessels continue to be Buyers’ number one choice, usually commanding a solid premium in their fixing price.
Bulkers:
Japanese controlled post panamax beam SHIRAKUMO (87K BLT 2006 IHI/JAPAN) is reported sold to Greek buyers (clients of Oceanbulk) for $22 mill, as her owners were originally aiming at $24 mill. Remind you that last week, same age but panamax beam unit GRAND CHALLENGER (82K BLT 2006 TSUNEISHI/JAPAN) went also to Greeks for $25 mill. Nineties vintage Japanese controlled panamax PLEIADES (68K BLT 1997 IMABARI/JAPAN) with good survey positions was acquired by Chinese buyers for $9 mill, in line with end April’s deal of CORONA ACE (77K BLT 1994 KAWASAKI/JAPAN) for $6.8 mill. Thai buyers (clients of Thoresen) have purchased Japanese controlled ORIENT ROSE (56K BLT 2006 MITSUI CR 4X30.5T) for $22 mill (in line with last week’s sale of ATLANTIC ADVENTURE (55K BLT 2006 OSHIMA CR 4X30T) for $22.5 mill), while three years younger unit KOMATSUHIMA STAR (55K BLT 2009 KAWASAKI/JAPAN CR 4X36T) went for excess $25 mill levels to undisclosed interests (two million less than April’s sale of PACIFIC IRMA (58K BLT 2010 TSUNEISHI/PHILIPPINES CR 4X30T) for $27 mill. Handy logger GREAT LEADER (33K BLT 2004 OSHIMA/JAPAN CR 4X30T) attracted low $14 mill, one million cheaper than one year older similar unit FLEX SHINE (32K BLT 2003 KANDA/JAPAN CR 4X30.5T) which was reported sold last month for $15 mill).
Demolition:
Subcontinent markets are bullish, acquiring as much tonnage as they can, before the monsoon rainy season starts (June to September, when we expect subcontinent to slow down). India is on fire, as cash buyers are offering levels in excess of $500 per Lt, especially for tankers & containers. Pakistan is keeping pace with slightly softer levels, while Bangladesh is steadily below the $500 mark but is still managing to offer “healthy” rates.
CLICK ON THE LINK BELOW TO READ THE FULL REPORT IN PDF FORMAT:
http://www.seanews.com.tr/reports/lion_weekly_09_may_2014.pdf