S & P
We have been witnessing an increasing demand for modern secondhand tonnage in the past couple
of weeks, which has in turn led to increasing competition on the distressed resales from shipyards in
China, as well as the secondhand tonnage being marketed from Japan.
In the Cape sizes M/V STAR ANGEL (170,475 dwt 1995 blt Mitsubishi) is sold for US$ 12.3m to Far
Eastern buyers, most likely Sinokor.
In the Panamaxes the M/V SHINING BLISS (76,939 dwt 2007 blt Namura) has obtained US$ 23.9m
from greek buyers.
Three STX newbuildings Supramaxes of 57,300 dwt have been sold by the builders to European
buyers for US$ 24.3m each; original order had been placed by Trojan Maritime.
M/V TREASURE ISLAND (52,489 dwt 2005 blt Tsuneishi Cebu) was inspected by 7 buyers towards
the end of last week and is now close to be fixed at a price in the region of US$ 20.1m.
Clients of Fairsky Shipping and Trading are rumoured to have sold mid 90s built handymax M/V NENA
A (42,975 dwt 1994 blt Hyundai) to Italian buyers for US$ 9.75m. The vessel had just passed her
drydock in Greece last month.
Finally, box hold type M/V SANKO ROYAL (42,529 dwt 1995 blt Namura) has obtained US$ 9.2m
from Bangladesh based buyers.
The week has seen continued reports of business being concluded, again across a range of different
sectors. The non-conventional sectors have continued to see the bulk of ordering activity, with further
orders in PCC and other niche sectors. There have also been further reports of ordering in the Dry
Bulk sector, which despite having seen a reduced level of activity over the past 12 months, is now
perhaps highlighting buyers increasing willingness to consider placing orders for the newer more
In Japan, the continuing strength of the yen, which has appreciated against the dollar by 5% in the
past 2 months and thus erasing many of the gains seen earlier in the year, continues to present an ongoing
challenge for the Japanese shipbuilders as they themselves look to win new orders. That being
said, the Japanese yards, like much of their Far Eastern competitors have undertaken large amounts
of design work, producing increasingly interesting and efficient designs. The hope remains that these
re-worked designs will help them regain their competitive edge and begin winning new orders again in
spite of what looks to remain a challenging market going forward.
In terms of reported business; In Dry, clients of D’Amico are now reported to have ordered 6 firm units
of 39,500dwt Bulk carriers, with options for up to an additional 6 units. Although not disclosed, pricing
is understood to lie in the mid USD 22s Mill with deliveries scheduled to begin from 2H 2014
onwards.In Other sectors, HHI are understood to have won an order from Eukor Car Carriers for a pair
of 59,000GT Car carriers with deliveries due in 2014. Sungdong meanwhile are understood to be very
close to concluding the signing of as many as 10 x livestock carriers with Malaysian company
Pembangunan Buka Hijau Holdings. Five of these vessels are understood to be designed to carry up
to 7,000 cattle, whilst the remaining five for 11,000 animals. Deliveries due to begin from Mar 2014. No
pricing has been disclosed.