H.Vafias: «Are we passed the bottom on the dry side OR not yet??? That’s the million dollar question»

 MONTHLY SALE AND PURCHASE REPORT    5/3/16

Are we passed the bottom on the dry side OR not yet??? That’s the million dollar question while the market has been firming over the last few days especially for the capesizes… The good news is that scrapping continues at a very high pace and excluding the order of 30 valemaxes In china we have seen nearly no other orders for bulkers take place recently!

Specifically on the Newbuilding front Kawasaki went to Nantong cosco for two VLCC’s while AMPTC ordered two more LR3’s ice 1C (coated suezmaxes) at Hyundai making four in total. The same yard also won an order from hoegh LNG for second LNG FSRU costing $223 million! K line went to sasebo for two aframaxes while jaccar exercised three options for VLEC’s (ethane carriers) at dalian, costing $130 mill each and all have 10 year charters to oriental energy…

Lets move on with the dry second hand sales. The ‘lowlands camellia’ 76,000 dwt built 06 japan got $6,5 mill, the ‘red daisy’ 61,000 dwt built 16 japan fetched $18 mil but with an above market charter for 3 years and the ‘pacific guardian’ 52,000 dwt built 06 philippines 4x30 got $4,5 mill. Three supramaxes built china 10/10/11 respectively (two of them gearless) got $21,3 mill enbloc (cheng guo xing / cheng guo rong / cheng guo rui), the ‘cs chara’ 30,000 dwt built 06 india got $3,6 milland the ‘angel jupiter’ 32,000 dwt built 06 japan 4x30 got $5 mill from tan binh shipping. The ‘zeynep K / sadan K’ both 80,000 dwt built 10 korea got $20 mill enbloc, the ‘capital/secret’ both 55.000 dwt built 13 vietnam 4x30 got sold to laliotis for $16 mill enbloc and the ‘calupso collosus’ 55,000 dwt built 09 japan 4x30 got $8,3 mill.  The ‘global island’ 53,000 dwt built 04 japan 4x30 got $4,2 mill, the ‘lyla’ 180,000 dwt built 09 korea got $17,5 mill from winning the same buyers also bought the ‘unique brilliance’ 176,000 dwt built 02 japan for $5,4 mill. The ‘julius oldendorff’ 53,000 dwt built 05 china 4x30 got $3,5 mill, the ‘JS phoenix’ 50,000 dwt built 2000 japan 4x30 got $3,1 mill and fred cheng made a comeback with the purchase of the ‘cape grace’ 176,000 dwt built 05 japan for $11,8 mill. Four daewoo built (two in 2012 and two in 2013) kamsarmaxes were sold for abt $12,5 mill each, two to embiricos and two to thenamaris while the ‘ocean wind’ 76,000 dwt built 05 got $5.75 mill. The ‘broadiadea’ 32,000 dwt built 10 japan 4x30 got $6,5 mill while the one year older ‘gloriosa I’ got $5,75 mill.

Lets continue with the 2^nd hand wet sales. The ‘kassos’ 95,000 dwt built 95 korea got $8,5 mill, the ‘ratna puja’ 105,000 dwt built 06 china got $23 mill from eurotankers while the ‘trident star’ 105,000 dwt built 05 japan is on subs for $27 mill. Last but not least the ‘simoa’ 40,000 dwt built 04 korea coated got $14 mill.