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Vessels sales and purchase picks up after freight market improves

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Various shipbrokers observed increased interests in newbuildings and secondhand ships’ market

Findings from Allied Shipbroking revealed newbuildings enjoyed improvements as 4 kamsarmaxes and 1 handysize were added in the global dry bulk orderbook. Total recorded order from January to April 2021 peaked at 52, in comparison to 36 for the same period in 2020. Surprisingly, the tanker sector also enjoyed several new orders: 4 Aframaxes and 18 chemical and Medium Range (MR) units.

Gradual heightened interests
Shipbroker Banchero Costa added Asiatic Lloyd placed an order at Dalian Shipbuilding for 2 + 2 optional 7,100 teu, the vessels to be delivered during 2023 with options during 2024. These vessels are to be ammonia ready. Cyprus Green World is reported to be behind order for 4 + 4 container feeders (2700 teu and 1900 teu) at Huangpu Wenchong. The vessels are expected to be delivered in 2023.

In the dry bulk segment, China Development Bank Financial Leasing signed with COSCO Yangzhou 8 x Kamsarmax 81,700 dwt, vessels are to be delivered between 2023 and 2024. In the tanker market, Enesel exercised a second optional Aframax 115,000 dwt at Daehan shipyard. The $51 million vessel will be delivered by Q1 2023. Norwegian owners SFL agreed with Guangzhou Shipyard to build 2 x 7,000 ceu car carriers with delivery scheduled in Q3/Q4 of 2023. Vessels to be employed in a 10-year time charter to Volkswagen.

Banchero Costa also noted in the dry bulk market of the lessened activity, naming price as one of the factors affecting the number of transactions. In a healthy market, chartering out rather than selling vision prevails, unless a ‘crazy price’ is achievable. Kamsarmax ‘JAIGARH’ 82,000 dwt Tsuneishi 2010 was sold for $19 million. This ship failed a previous sale in March 2021 at $16.8 million. Panamax ‘BLESSED LUCK’ 76,700 dwt 2004 Sasebo, BWTS fitted was sold to an undisclosed buyer for $12.5 million.

Handy bulker ‘BERGE BANDAI’ 39,000 dwt 2016 Jiangmen was sold to Hamburg Bulk Carriers for $17.5 million based on passed SS/DD this year. In the tanker market, the shipbroker added that despite the market rate remaining low, the few recent sales reflected moderate optimism and were able to achieve levels that were in line with, or even exceeded, expectations.

Suezmax ‘SKS SPEY’ 158,800 dwt 2007 Hyundai and Aframax ‘MARATHA’ 105,900 dwt 2003 Hyundai were sold to undisclosed buyers for $24 million and $13.5 million respectively. The same owners have sold sisterships (‘SKS SEGURA’ – ‘AEGEAN FREEDOM’) earlier this year at similar prices.

Allied added on the dry bulk side, progressing freight market developments and the enhanced sentiments resulted in a persisting interest amongst buyers. The overall positive momentum in the segment is also reflected in the fact that transactions are equally spread across the different vessel size classes for another short duration. Appetite is expected to remain strong, but with rising asset prices accompanied with the lack of keen sellers may curb some activity moving forward.

Allied remarked movements remained active despite persisting disappointing freight earnings for the tanker market. It seems that hopes for an anticipated demand recovery to take place sooner or later have revived interest in the sector. Focus was on the Aframax and MR sectors. Activity is expected to continue showing signs of recovery, with the actual demand rebound pace and asset price levels determining the final outcome.

Source:
Hellenics Shipping News

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