Shipping: Values continue to firm

By 

Harry Vafias

Despite the weakening day rates for both bulkers and tankers values continue to firm especially for modern crude tankers and bulkers of all sizes especially the ones that are Japanese built!

On the newbuidlings front dalian tiger agreed with shanhaiguan new to build two more 38,000 dwt bulkers making a total of 10 similar units while blue wall exercised an option for two more 43,000 dwt handies at qingshan making 4 in total costing abt $24 mill each. Shandong bohai went to sinopacific for two option two 82,000 dwt kamsarmaxes costing $30 mill each and jingling won an order from densay for two 64,000 dwt ultramaxes. RGL agreed with nantong cosco to build two 210,000 dwt newcastlemaxes, oldendorff exercised options for six ultramaxes at qingshan, making 12 in total and costing abt $25,5 mill each, and sainty won orders from precious for twelve ultramaxes costing $28 mill each! Spar went to hantong for four similar ships while paragon agreed with Jiangsu yangzijiang to build 3 kamsarmaxes priced at $30 mill each and two ultramaxes at dayang. Trafigura agreed to build newcastlemaxes in Qingdao yangfan while golden union went to hanjin for two capes costing $57 mill each. Quintana decided to order one postpanamax at sasebo, Laskaridis ordered two kamsarmaxes at penglai for $27 mill each and euroseas ordered two similar ships in Jiangsu for $30 mill apiece.  Nomikos went to cosco Nantong for two ultramaxes.

Navig8 agreed with fukuoka to build two 25,000 dwt stainless chem. tankers costing abt $42 mill each (navig8 have now 8 chem ships on order, two in fukuoka and six in kitanihon) moreover they ordered two more VLCC’s at Hyundai costing $102 mill each (they have now 14 VLCC’s on order, six at Hyundai, six at SWS and two at hanjin subic!!!). TEN exercised four options for aframaxes at Daewoo mangalia costing abt $52 mill each for long charter to statoil while CSBC corp won an order from CPC for two 40.000 dwt products. Navig8 have also ordered eight LR1’s at STX with options for four more costing $48 mill each while Wilbur Ross has just entered the VLCC market with an order for 2 option 2 VLCC’s at hanjin subic costing $96 mill apiece. CM lemos went to Hyundai for two suezmaxes costing $67 mill each and Chandris returned to Daewoo for two LR2’s costing $51 mill each. Breakwater capital went to sungdong for four MR’s costing $35 mill, trogir went to uljanik for two similar ships and chemical transport went to avic for five option five 25,000 dwt chem. ships costing $40 mill each.

Lets continue with the 2^nd hand dry sales. The ‘A duckling’ 171,000 dwt built 99 japan got $22 mill while two 80,000 dwt resales ex jinhai fetched $23 mill each. Sanko paid $25 mill for the ‘ocean lily’ 76,000 dwt built 06 japan while scorpio bought four daehan cape resales costing $61,5 mill each. Dryships paid $54 mill for the ‘conches’ 180,000 dwt built 11 korea with TC till the summer at $26k daily , victory paid $51 mill to acquire enbloc two kamsarmax resales ex Jiangsu eastern in 2016 and another kamsarmax ex wuchang with prompt delivery got $27  mill. The ‘new agility’ 76,000 dwt built 01 japan got $17,5 mill, the ‘babitonga’ 75,000 dwt built 01 korea got $17,1 mill and the ‘bulk avenir’ 50,000 dwt built 02 japan 4x30 got $17,7 mill from kouros. The ‘seacon 9’ 75,000 dwt built 12 china got $22 mill, the ‘white halo’ 56,000 dwt built 12 japan 4x30 fetched $30 mill and a handy resale ex qingshan got $23,5 mill from load line marine. Cargill paid $55 mill for the ‘shagangfirst era’ 180,000 dwt built japan 2010, vista paid $18,5 mill for the ‘lian fu star’ 172,000 dwt built 97 japan and moundreas bought two capes, the ‘pacific enterprize’ 150,000 dwt built 96 china for $13,5 mill and the ‘pacific challenger’ 150,000 dwt built 95 china for $12,5 mill. Diana paid $70 mill to acquire enbloc the ‘stella belinda / stella dawn’ both 82,000 dwt built 13/14 china and dalex paid $23 mill for the ‘orient singapore’ 33,000 dwt built 11 japan.

Lets finish off with the tanker transactions. Two stainless tankers were sold, the ‘stolt ami’ 20,000 dwt built 06 japan for $23,5 mill and the ‘maemi II’ 20,000 dwt built 08 for $28 mill while angelicoussis bought two VLCC’s built 2012 by Daewoo namely the ‘blue jade / blue garnet’ both 320,000 dwt at $90 mill apiece. The ‘asian progress II’ 290,000 dwt built 2000 japan got $30 mill, the ‘pacific leo’ 107,000 dwt built 03 japan got $22 mill and three stainless ships namely the ‘SC Shantou / SC Shenzhen / SC zhuhai’ 20,000 dwt built 98/99/99 japan for on average $17 mill each. Genmar paid $735 mill for the scorpio VLCC resales (7 units total, 5 from daewoo and two from Hyundai) while ridgebury bought three suezmaxes namely the ‘prisco mizar / ice traveler / ice explorer’ all abt 150,000 dwt built korea/japan/japan respectively ice class 1A for abt $42 mill each. Torm sold 13 MR’s built korea between 97-05 to oaktree, BLT paid $12,5 mill for the ‘elise schulte’ 106,000 dwt built 99 japan and seaworld paid $13,5 mill for the ‘cielo di parigi’   36,000 dwt built 01 korea epoxy. Ofer paid $48,5 mill for the ‘knock clune’ 164,000 dwt built 2010 china while he also paid $31,5 mill for the ‘forward venture’ 115,000 dwt built 06 japan.