Intermodal: 230 Second-Hand Bulkers Changed Hands in 2018

Since the beginning of 2018 around 230 second-hand sales have been reported in the dry bulk sector, according to Intermodal’s market insight.

Handysizes and Ultramaxes seem to have sparked the greatest interest with 160 sales in the dwt range. The high demand for such tonnage has seen asset values leap upwards.

“We recently saw a 38k dwt non-Japanese bulk carrier built in 2011 being sold for USD 11.3 million and a 33k dwt Japanese unit built in the same year fetching more than USD 15 million. Both these prices are indicative of the increasing popularity Handysize vessels above 33kdwt are currently enjoying,” Intermodal’s George  Iliopoulos said.

Supramax and Ultramax bulkers were also the popular choices of owners, with Chinese and Japanese-built tonnage attracting the most buyers.

Two types of Supramaxes attracted buyers’ interest, according to Intermodal, small Supras ranging between 50,000 and 52, 000 dwt, built in the early 2000’s and bigger vessels over 55,000, built between 2006- 2012.

A 2006-built MV Darya Vishnu fetched a price in excess of USD 13 million. For the purpose of comparison, about a year ago, a sister ship of the bulker, was sold for around USD 10 million, only to be resold at the end of 2017 for slightly above USD 11.5 million.

“Prices appear to be on the rise again and the performance of the freight market during the summer season will definitely help shape expectations for the last quarter of the year,” Iliopoulos added.