The summer is approaching fast but tanker rates haven’t cooled off!

By 

Harry Vafias

The summer is approaching fast but tanker rates haven’t cooled off! On the other hand dry rates and values remain heavily depressed and there is no light in the end of the tunnel for at least 12 more months!

As usual lets start from the newbuilding front. Kyma ship management ordered two 64k ultramaxes at Yangzhou guoyu gor $27 mill each while MST went to AVIC for two 38k handies costing $22 mill apiece. An unnamed owner agreed with CSIC to build a single 76,000 dwt panamax with an option attached while OOCL agreed with Samsung to build six 20,000 teu mega containers costing $159 mill each! Hanjin won an order from MSC for four 11,000 teu containers to be built in subic bay with a price tag of $80 mill each!

MTMM ordered four stainless chem tankers, two in shin kurushima (35,000 dwt) and two in kitanihon (21,000 dwt) while angelicoussis exercised options for two more VLCC’s making their total order at DSME at 6 ships, price abt $97 mill each. Cardiff agreed with Samsung to build four ice class 1a aframaxes costing $57 mill each while unisea also chose the same yard to order two standard aframaxes for $55 mill each. Bahri went to Hyundai for five option five VLCC’s costing $96 mill apiece while TSM and CSSC have each ordered a single VLGC from SWS.

Lets continue with the 2^nd hand bulker sales. Wisdom has rebought the ‘SBI merengue’ from scorpio 81,000 dwt ex yard 16 tsuneishi zhoushan for $27 mill while the ‘unity pride’ 81,000 dwt built 11 hyundai fetched $17,5 mill. Blue seas paid $48 mill for the ‘SBI kratos/ SBI thalia’ both 64,000 dwt ex chenxi 16 from scoprio while two older capes the ‘onoe / chitose’ both 170,000 dwt built 2000 japan got $18,4 mill enbloc from greeks. The ‘blue matterhorn’ 81,000 dwt built 11 hyundai got $17,8 mill, the ‘prabhu mohini’ same yard, same age got $17,5 mill, the ‘prabhu sher’ same yard, same age got $17,8 mill while the ‘noble hawk’ 56,000 dwt built 07 4x30 japan got $12,25. The ‘indigo ocean’ 28,000 dwt built 08 japan 4x31 got $9,1 mill, the coal carrier ‘shiyo’ 77,000 dwt built 01 japan got $7 mill while the ‘tms maria’ 52,000 dwt built 01 japan 4x30 got $7,5 mill from loadline. Last but not least the ‘new sailing star’ 32,000 dwt built 10 china 4x30 got $6,5 mill from eddie steamship.

Lets finish off with the hot tanker deals. The ‘alga’ 37,000 dwt built 12 hyundai got $27,5 mill, the ‘pula’ 46,000 dwt built 06 croatia got $18 mill from champion while the ‘maemi’ 20,000 dwt built 08 japan stainless got $25 mill. The smaller stainless ‘chemtrans mabuhay’ 17,000 dwt built 00 japan got $9 mill, the ‘ariadni’ 166,000 dwt built 09 hyundai got $55,5 mill from delta and the ‘stavanger prince’ 110,000 dwt built 02 china coated fetched $19 mill.