Summer Shoppers Active in Secondhand Market

The sale and purchase market of secondhand vessels is experiencing positive vibes as summer shoppers avail of the asset prices on the market. According to the latest weekly report from shipbroker Lion Shipbrokers, the week was very active, as  3 panamaxes, 3 supras & 2 handies changed hands.

“Almost all of the units have been committed to the usual Greek and Chinese summer shoppers,”  said Lion Shipbrokers.

Lion reported that “the Chinese buyers continue to sweep nineties built panamaxes; Vogeman’s VOGE WEST attracted $5 mill (which translates to $471 per lt) while RZS JOY & CSK UNITY changed hands within China for a soft $5.5 mill and $6 mill respectively.

Clients of Technomar have agreed to pay a soft $19-$19.5 mill for supramax BLUE OCEAN, almost the same level as three years older MANDARIN HARVEST sold for $19 mill also to Greeks, two weeks ago. Japanese controlled supramax BULK LEO has attracted a firm $22.7 mill from Greek buyers compared with this month’s earlier deal of one year older sister BRIGHT MOON  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.

Japanese controlled, 2-generator handy unit ATLANTIC ARROW 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 was sold for $13.25 million”, Lion Shipbrokers’ report reads.

With respect to newbuilds,  Chinese yards benefited the most during this week, according to shipbroker Clarkson Hellas, COSCO being the most prominent one mostly for bulk carriers, seven of them exactly.

The tanker market was not that active, with only Nova Shipping & Logistics (Singapore) contracting two firm 34,500 DWT coated chemical tankers at Taizhou Sanfu.

Finally, in the demolition market, the  subcontinent market is keeping its momentum, as explained by Lion, with Pakistan “really hungry for tonnage and is taking advantage of the Indian bad weather conditions by offering more aggressively and acquiring the majority of demo-candidates out there. China has softened even further (by $10 per lt) since last week, as the local construction industry is absorbing less & less steel, and local experts do not foresee any significant improvement in the near future. Turkey remains stable but with negative prospects (at least until the end of the Ramadan month) resulting to fewer candidates choosing Aliaga shores for their final destination.”