Values are still plummeting on the dry and container side

By 

Harry Vafias

The new year has started as we all hoped it would… values are still plummeting on the dry and container side and even on the tanker side where the day rates are booming asset values are still stuck at moderate levels.

Lets start from the new orders front. JMU after 26 years has decided to build MR tankers with the help of onomichi! It will build 4 MR’s two for charter to Norden and two for charter to Damico. STX won another imo II MR from navig8 making 5 in total  and still hold 5 more optional ships! Ernst Jacob is discussing to build two option six LR1’s at hantong costing $42 mill each while china merchants in JV with sinotrans are planning to order 10 more VLCC’s in Chinese yards (they already have 9 on order!). Klaveness went to jiansu new Yangzi for three 83,000 dwt obo’s while tsuneishi won orders for 8 aframaxes, 4 from kambara and 4 from meiji! Latsis declared two options for MR’s and simultaneously ordered two more such ships in Hyundai vinashin while ship finance agreed with daehan to build two LR2’s. Andriaki declared two options for LR1’s at STX costing $46 mill each while doug kisen went to kitanihon for two 38,000 dwt stainless chem. tankers costing $55 mill apiece.  Jaccar ordered four 32,000 cbm ethane/ethylene ships at Jiangsu watts and five 85,000 cbm ethane carriers! The latter cost $130 mill each!

Lets continue with the disastrous 2^nd hand dry transactions.  Fredriksen bought two daehan cape resales from scorpio for $34 mill each while angelicoussis bought 7 cape resales, 4 from star bulk all built SWS and 3 from scorpio all built at sungdong for a total of $243 mill! thenamaris picked up the ‘faustina’ 177,000 dwt built 10 china for $19 mill while the ‘deep seas’ 72,000 dwt built 99 korea got $3 mill. The ‘piere LD’ 170,000 dwt built 05 korea fetched $12,25 mill, the ‘bulk honduras’ 57,000 dwt built 12 philippines 4x30 got $12 mill while the ‘karavados’ 51,000 dwt built 02 japan 4x30 got $5,5 mill. The ‘maren bulker’ 32,000 dwt built 08 japan 4x30 got $8,5 mill, the ‘maritime hareshio’ 75,000 dwt built 06 japan achieved $8,2 mill and the ‘ocean lark’ 37,000 dwt built 12 korea 4x30 got $9,5 mill. The sisters ‘ sofie bulker / amine bulker’ 28,000 dwt built 07 japan 4x30,5 got $7 mill each while phoenix paid $12,2 for the ‘nord power’ 176,000 dwt built 05 japan. Oldendorf paid $6,1 mill to secure the ‘ikan kurau’ 88,000 dwt built 06 japan while the ‘daebo trader’ 73,000 dwt built 02 japan got $4,9 mill! The ‘he ming’ 73,000 dwt built 2010 china achieved $10 mill while the ‘new pacific’ 55,000 dwt built 05 japan 4x30 got $6,75 mill.

Lets conclude with the 2^nd hand wet sales. Bahri in Saudi paid $155 mill to acquire enbloc the ‘voss spirit/ hemsedal spirit’ both 315,000 dwt built 2010 korea while the ‘DHT trader’ 152,000 dwt built 2000 japan got $26,5 mill from global united. The ‘nave lucida’ 45,000 dwt built 05 japan epoxy got $19 mill from great eastern while glovis paid $44 mill to acquire enbloc the ‘ north fighter/ glendon’ both 20,000 dwt built 06 japan stainless. The ‘gener8 consul’ 47,000 dwt built 04 croatia got $17,5 mill and the ‘cielo di salerno’ 36,000 dwt built 02 korea got $13 mill.