H.Vafias: Τhe last thing we really need is more newbuild orders!

Monthly Sale and Purchase Report 

By Harry Vafias

Unfortunately over the last month we have seen an increase in demand for newbuildings, we hope that’s only temporary as the last thing we really need is more newbuild orders!

Sinokor agreed with jinhai to build 4 firm newcastlemaxes with sixteen options, for region $38 mill each guessing with very high finance and the same yard and type of ships has been selected by chartworld but for only two units with two options… Panocean went to to yiangzijiang for five 62,000 dwt pulp carriers (costing $29 mill apiece) for 25 years employment with fibria cellulose of brazil! Fredriksen agreed to buy two resale VLCC’s from DSME (abandoned by sinokor) for $77,5 mill each and also ordered two 180,000 cbm LNG ships with two options costing $183 mill each! Kyoei agreed with namura to build a single VLCC for long charter to NYK while Hyundai won one FRSU from a JV between kolin-kalyon of turkey while Cardiff is in discussions with hanjin subic for VLCC’s at low 70’s each!

Lets move on with the dry sales. The four yangzigiang kamsarmax sisters ‘canon trader II / kapetan trader I / trader II / trader III’ all 81,000 dwt built 13 got $62 mill enbloc from starbulk , the 63,000 dwt yangfan resale ex yard feb 18 4x30 got $19,8 mill and CTM-goodbulk paid $10 mill to buy the ‘admiral schmidt’ 55,000 dwt built 07 japan. Minyi leasing bought the ‘jin feng / jin heng / jin shun / jin mao’ all abt 55,000 dwt built 11/10/09/09 respectively, first two in china and latter two in japan for an average price of $12 mill per ship! Songa paid $14,8 mill to secure the ‘flama’ 80,000 dwt built 11 korea, the ‘conti spinell’ 75,000 dwt built 11 china got $10,4 mill and the ‘brilliant phoenix’ 61,000 dwt built 16 japan 4x30+grabs got $22,6 mill. The ‘indigo felicity’ 28,000 dwt built 10 japan 4x30 logs fitted got $7,5 mill while dryships paid $120 mill enbloc to buy the ‘ super star / wish star / moritz oldendorff/ valley star’ all 205,000 dwt built 14/15/13/13 china respectively. The ‘teh may’ 175,000 dwt built 04 china got $10,7 mill, oldendorff paid $10,5 mill for the ‘fulvia’ 93,000 dwt built 10 china while the ‘bergen trader I / Bergen trader II’ both 81,000 dwt built 12/13 korea got $32 mill enbloc. The ‘red sakura’ 60,000 dwt built 17 japan 4x30 got $23 mill while the ‘billion trader II’ 82,000 dwt built 07 japan fetched $12,5 mill. The ‘zhe hai 167’ 57,000 dwt built 11 china 4x36 got sold at auction for $9,7 mill.

Let finish off with the second hand wet sales. The ‘DHT phoenix’ 307,000 dwt built 99 korea got $18,5 mill from mercuria while two afra resales ex Hyundai non coated got $44 mill each. The ‘alam bakti’ 48,000 dwt built 03 japan coated, non imo got $10,5 mill while the ‘caribbean orchid’ 20,000 dwt built 09 japan stainless got $17,5 mill.  Four LR’s namely ‘ratna shalani /shrada / shruti / namrata’ all 105,000 dwt built 10/08/08/08 korea got sold for $92 mill enbloc to geden lines after failing to restis and Economou respectively.