Few facts have no need for further analyses. A year earlier, a Japanese
Kamsarmax bulk carrier built at Sanoyas in 2009, (MV ERICA) was then sold
at levels in the region of usd 40 million to clients of Tolani Group.
This week an October 2011 built Sasebo panamax bulk carrier of about 75k
dwt, is rumored to be sold to clients of Zodiac, at levels bit below usd 29
mills. Letting aside case specific factors and our permanent argument with
regard to the pressure currently applied on Japanese sellers, fact remains that a
willing Buyer being the highest bidder, was there to lock the vessel at
above mentioned levels, setting a new benchmark in the market.
On the tanker SnP front, we picked up a couple of rumors this week, most
important amongst them the sale of the Aframax tanker 'Frankopan; built
1995 at levels in the region of usd low 9s mills.
Meantime, the 2005 built 20k dwt class stainless steel chemical tanker M/T
Oak Galaxy, was reported committed at levels close to usd 19 mills.
A continuous depreciating trend of the yen against the USD, as the one
recently observed, will assist second hand sales as well as new building
activities in Japan. It is rumored that Imabari Shipbuilding agreed to
build 4 Kamsarmaxes, at levels close to usd 32 million each with delivery
2014 for Middle Eastern interests. While in China, Cosco Zhousan
has secured a contract from Greek buyers for 2 units of Ultramax Bulk
carriers (levels not known).