H.Vafias: ...and the GREXIT risk as well…

By

Harry Vafias

Interesting times for shipping, basically all segments are doing quite badly except tankers! Moreover adding to the owners problems we have huge pending orderbooks especially on the dry side and the GREXIT risk as well…

As always lets start from the new buildings. Metrostar agreed with Hyundai to build two option two VLCC’s, KSS ordered a single 38,000 cbm LPG carrier at HMD for $52 mill and Evergas agreed with yangzijiang to build two 27,000 cbm multigas vessels able to carry LNG and ethane costing $70 mill each! Oman shipping went to STX for four option four 74,000 dwt LR1’s costing abt $47 mill each, kyklades ordered three suezmaxes in sungdong on top of the two they ordered 9 months ago, and the latest order costs $65 mill per ship and Dong A converted four capes they had on order in Hyundai to LR2’s.

Ningbo marine went to jinling for three 50,000 dwt coal carriers costing $27 mill each while cosmoship went to daesun for two option two 1800 teu containers costing $27 mill each. Last but not least navigation bulgare exercised two options at Jiangsu hongqiang for two 40,000 dwt handies and RGL shipping went to Nantong cosco for two kamsarmaxes!

Lets continue with the 2^nd hand dry sales. Shelton paid $9,8 mill for the ‘thalia’ 75,000 dwt built 01 japan while the ‘maritime taboneo’ 76,000 dwt built 04 4x30 japan fetched $10,3 mill. Edem marine paid $9,7 mill to acquire the ‘cmb biwa’ 53,000 dwt built 02 4x31 japan while iolcos got a great deal by paying $16,5 mill for the ‘A max’ 84,000 dwt built 11 korea at auction. The ‘copper queen’ 46,000 dwt built 01 japan 4x30 got $7,3 mill,  the ‘indigo ocean’ 28,000 dwt built 08 4x31 japan got $9 mill and baru delta paid $12,5 mill for the ‘ultra initiator’ 56,000 dwt built 07 japan 4x30. RBS agreed with Cyprus maritime to take over the Blenheim fleet consisting of four post panamaxes built in korea 09/09/10/11 and two Japanese 04 built panamaxes en bloc for $75 mill! the ‘sat bellatrix’ 28,000 dwt built 09 japan 4x31 got $10.3 mill while the ‘sat nunki’ 28,000 dwt built 08 japan 4x31 got $9,7 mill.

Lets conclude with the 2^nd hand tanker transactions. The ‘HF pioneer’ 20,000 dwt stainless built 10 japan got $25,3 mill while the ‘FS philippine’ 18,000 dwt built 05 italy epoxy ice 1c got $12 mill. Eastern pacific paid $101 mill enbloc to buy three afras built in 05/08/09 japan/korea but the low price reflected existing business between the same owners on the container side! Hafnia paid $140 mill to acquire enbloc the ‘kihada/karei/maguro/artic char’ all 74,000 dwt built 10 korea (except one which is croatia) epoxy coated with surveys due.