Weekly Broker: Contrasting fortunes

Weekly Broker: Contrasting fortunes

The dry bulk S&P market maintained a healthy volume of transactions for yet another week with increasing interests across all sizes on the back of further firming capesize rates while asset prices remain attractive. On the contrary, the tanker S&P market saw limited activities, aligning with the weak sentiment in the tanker chartering market.

“On the dry bulk side, it was another week with a fair number of transactions taking place, a fact that reflects the sentiment improvement noted amongst potential buyers. The confidence boost that derived from the impressive rally noted in the freight market has pushed several in search of new buying opportunities. Last week, we witnessed an increased focus in the panamax/kamsarmax segment, but deals were reported across all other size segments as well. The increase in buying interest is expected to resume this coming week, partially helped by the current price levels being seen,” Allied Shipbroking said in its latest weekly report.

More than six shipbroking houses reported that UK owner Union Maritime sold its 2005-built 76,700 dwt panamax bulker Harrow, which had been on the market for months. Allied Shipbroking and Intermodal identified the buyer as Greek owner Aims Shipping. The Japanese-built vessel has fetched a price of $8.65m.

Both Allied Shipbroking and Lorentzen & Stemoco reported that Greek owner Navios Maritime sold three 2005-built 75,000 dwt panamax bulkers Navios Hope, Navios Amitie and Navios Northern Star. The three Japanese-built vessels have all been sold to Chinese buyers for a price of around $7m each.

Allied Shipbroking, Intermodal and Lorentzen & Stemoco all listed the sale of the 2002-built 50,992 dwt supramax bulker Bulk Beothuk. The Japanese-built vessel was sold by Pangea Logistics to Chinese buyers for $5m.

“On the tanker side, things are quite different, as the recent slump in earnings has trimmed appetite amongst buyers. The current situation has let most potential buyers to take a step back, awaiting for a better picture to take shape in terms of earnings and clear direction before proceeding with any new offers. Last week, we witnessed just one transaction, which was the sale of a vintage MR unit,” Allied Shipbroking added.

Both Advanced Shipping & Trading and Seasure Shipbroking reported that Greek owner Andreas Martinos’s Minerva Marine sold two aframax tankers en bloc. The 2000-built Minerva Alexandra and the 2002-built Minerva Zenia. The Chinese-built vessel has been sold by Maersk Tankers to undisclosed buyers for $7m.

Braemar ACM Shipbroking reported that the 2009-built 1,700 teu Stellar Willemstadt. The purchase price was not disclosed.

The secondhand containership sale and purchase market has seen activities picking up this week with post-panamax rates starting to improve.

Source: Splash247