MARKET COMMENTARY /RUMOURS
Bulkers:
The BDI index drop was halted this week and is currently standing at 739 points, sending some positive vibes to the s+p market. Although we are in the “heart” of the summer, as the asset prices continue to soften, we experienced a very active week with 3 panamaxes, 3 supras & 2 handies changing hands.
Almost all of the units have been committed to the usual Greek and Chinese “summer shoppers”.
The Chinese buyers continue to sweep nineties built panamaxes; Vogeman’s VOGE WEST (70K BLT 1995 ISHIBRAS /BRAZIL , LDT 10640) attracted $5 mill (which translates to $471 per lt) while RZS JOY (69K BLT 1995 IMABARI LDT 9804) & CSK UNITY (68K BLT 1995 SASEBO /JAPAN LDT 9861) changed hands within China for a soft $5.5 mill (having fixed & failed back in May at $8 mill) & $6 mill respectively. Remind you that at the begging of July, similar but slightly older units DURO (73K BLT 1993 HYUNDAI /S. KOREA ) and THEMIS P (70K BLT 1994 SUMITOMO /JAPAN ), were sold for $6.3 mill & $5.8 mill to Chinese buyers. Clients of Technomar have agreed to pay a soft $19-$19.5 mill for supramax BLUE OCEAN (57K BLT 2011 STX DALIAN /CHINA CR 4X 30T ), almost same level as three years older MANDARIN HARVEST (57K BLT HANTONG /CHINA CR 4X 35T ) sold for $19 mill also to Greeks, two weeks ago.
Japanese controlled supramax BULK LEO (55K BLT 2008 MITSUI /JAPAN CR 4X 30T ) has attracted a firm $22.7 mill from Greek buyers (hearing clients of A.M. Nomikos or clients of Almi) compared with this month’s earlier deal of one year older sister BRIGHT MOON (56K BLT 2007 MITSUI /JAPAN CR 4X 30T ) for $21 mill. At an auction by sealed tender, organized by the Admiralty Marshal in Falmouth, England, clients of Eastmed of Greece were the highest bidders, paying $17.2 mill for the open hatch 8 holds/8 hatches configuration box hold supramax SANKO MINERAL (50K BLT 2008 OSHIMA /JAPAN 8HO /8HA CR 4X 40T ). Japanese controlled, 2-generator handy unit ATLANTIC ARROW (28K BLT 2005 SHIN KURUSHIMA /JAPAN CR 4X 30T ) was snapped by clients of British Bulkers of Greece for a soft $12.5 mill, while last month, one year older but similar unit BUMBI (29K BLT 2004 SHIKOKU /JAPAN CR 4X 30T ) was sold for $13.25 mill.
Bulkers:
The BDI index drop was halted this week and is currently standing at 739 points, sending some positive vibes to the s+p market. Although we are in the “heart” of the summer, as the asset prices continue to soften, we experienced a very active week with 3 panamaxes, 3 supras & 2 handies changing hands.
Almost all of the units have been committed to the usual Greek and Chinese “summer shoppers”.
The Chinese buyers continue to sweep nineties built panamaxes; Vogeman’s VOGE WEST (70K BLT 1995 ISHIBRAS /BRAZIL , LDT 10640) attracted $5 mill (which translates to $471 per lt) while RZS JOY (69K BLT 1995 IMABARI LDT 9804) & CSK UNITY (68K BLT 1995 SASEBO /JAPAN LDT 9861) changed hands within China for a soft $5.5 mill (having fixed & failed back in May at $8 mill) & $6 mill respectively. Remind you that at the begging of July, similar but slightly older units DURO (73K BLT 1993 HYUNDAI /S. KOREA ) and THEMIS P (70K BLT 1994 SUMITOMO /JAPAN ), were sold for $6.3 mill & $5.8 mill to Chinese buyers. Clients of Technomar have agreed to pay a soft $19-$19.5 mill for supramax BLUE OCEAN (57K BLT 2011 STX DALIAN /CHINA CR 4X 30T ), almost same level as three years older MANDARIN HARVEST (57K BLT HANTONG /CHINA CR 4X 35T ) sold for $19 mill also to Greeks, two weeks ago.
Japanese controlled supramax BULK LEO (55K BLT 2008 MITSUI /JAPAN CR 4X 30T ) has attracted a firm $22.7 mill from Greek buyers (hearing clients of A.M. Nomikos or clients of Almi) compared with this month’s earlier deal of one year older sister BRIGHT MOON (56K BLT 2007 MITSUI /JAPAN CR 4X 30T ) for $21 mill. At an auction by sealed tender, organized by the Admiralty Marshal in Falmouth, England, clients of Eastmed of Greece were the highest bidders, paying $17.2 mill for the open hatch 8 holds/8 hatches configuration box hold supramax SANKO MINERAL (50K BLT 2008 OSHIMA /JAPAN 8HO /8HA CR 4X 40T ). Japanese controlled, 2-generator handy unit ATLANTIC ARROW (28K BLT 2005 SHIN KURUSHIMA /JAPAN CR 4X 30T ) was snapped by clients of British Bulkers of Greece for a soft $12.5 mill, while last month, one year older but similar unit BUMBI (29K BLT 2004 SHIKOKU /JAPAN CR 4X 30T ) was sold for $13.25 mill.
CLICK ON THE LINK BELOW TO READ THE FULL REPORT IN PDF FORMAT:
http://www.seanews.com.tr/reports/lion_25_july_2014.pdf