The strength of the tanker market is here to stay

By

Harry Vafias

As we waive goodbye to the summer we are slowly feeling that the strength of the tanker market is here to stay! VLCC’s have touched usd 100k daily, all crude sizes are performing well and even MR’s are producing great results and fetching firm numbers for period! All the other shipping segments and specifically dry, LNG and containers are continuing to feel the pain!

Lets begin with the new orders front. COSCO has ordered two 320,000 VLCC’s in dalian cosco costing $92 mill each while Hyundai mipo has taken an order from eletson for two 38,000 cbm LPG’s and one 12,000 cbm ethylene vessel, the former costs $51 mill each while the latter $38 mill. Evalend also went to HMD for two option two 38,000 cbm LPG’s costing $50,5 mill each while NYK went at the same yard for two 50,000 dwt product tankers. Solvang went to Hyundai for two VLGC’s destined for long term charter while NYK with MOSK each ordered an LNG at Kawasaki and mitsui for long charter to chubu electric power.  Petredec also ordered two option two VLGC’s at Hyundai costing $77 mill each while thenamaris agreed with the same yard to build four 158,000 dwt suezmaxes for 2^nd half 17 deliveries. Sinokor went to Daewoo for four more VLCC’s costing $95 mill apiece, now they have 8 in total on order, and they also agreed with HMD to build two LR1’s costing $46 mill each. Similar ships were ordered by damico in Hyundai vinashin costing $44 mill each while shanghai north sea went to CSSC for two 63,000 dwt crude tankers costing $40 mill each.

Samos went to sanoyas for two kamsarmaxes while PIL ordered four option four 11,800 teu containers at yangzijiang costing $90 mill each. Sinopacific won orders from elcano for two 120,000 dwt mini capes destined for long charter.

Lets proceed with the 2^nd hand dry sales. The Chinese built 2011 ‘rui lee’ 56,000 dwt 4x36 got $11,6 mill at auction, the ‘kwela’ 32,000 dwt built 02 japan 4x30 got $7 mill while the ‘lilja bulker’ 28,000 dwt built 03 4x30 got $6,5 mill. The ‘van orchid’  28,000 dwt built 09 japan fetched $10 mill while the ‘pine wave’ 88,000 dwt built 06 japan got $12 mill. Sea traders paid $68,4 mill to acquire enbloc at an auction 8 ships built in yangfan all in 2010 and 2011, five are supramaxes and 3 kamsarmaxes while canfornav paid $27 mill enbloc for the lakers ‘emilie / heloise’ both 30,000 dwt built 10 china 3x30.

Eastern pacific bought the ‘atlantic maru’ 180,000 dwt built 14 japan and the ‘shagang first’ 177,000 dwt built 06 japan for abt $60 mill enbloc while the ‘ocean ceres’ 172,000 dwt built 99 got $9 mill. Target paid $18,5 mill to acquire enbloc the ‘torm anholt / torm bornholt” both 75,000 dwt built 04 japan while the ‘lotus’ 52,000 dwt built 01 japan 4x30 got $6,3 mill. Navibulgar paid $21 mill enbloc for the ‘tesoro / regina’ both 32,000 dwt built 10 china 4x30.

Lets finish off with the 2^nd hand wet sales.  A product tanker resale ex HMD got a firm price of $39 mill while the ‘nord optimizer’ 47,000 dwt built 07 japan coated got $22 mill. The ‘chemroad vega’ 34,000 dwt built 03 japan stainless got $16 mill while torm paid $27 mill for the ‘maersk malta’ 50,000 dwt built 10 china. Norden agreed to buy the ‘STI highlander’ 37,000 dwt built 07 korea  for $20 mill while the ‘maersk elizabeth’ 37,000 dwt built 01 croatia got $13 mill. last but not least Maersk paid $18,5 mill for the ‘elbtank italy’ 37,000 dwt built korea 06.