H.Vafias: Τhings are not good in any shipping segment

By 
Harry Vafias

We are nearly in the middle of the summer and things are not good in any shipping segment.. dry rates have essentially collapsed and especially on the capes, tankers and more so crude carriers their rates have also approached historical lows and containers have been dreadful for a very long time…

Lets begin from the new orders front.. Samsung won an order from MISC for two 125,000 dwt shuttle tankers costing $125 mill each for charter to Statoil while oldendorf agreed to build one kamsarmax at Jiangsu hantong. China steel express went to CSBC for two newcastlemaxes while kumiai sempaku agreed with Kawasaki to build one scrubber fitted VLGC for end 19 delivery. Jiagnan changing won an order from petredec for two option two VLGC’s costing $73 mill apiece while navig8 went to new century for 4 option 4 50,000 dwt MR’s costing $32 mill each. Similar ships were ordered by sea pioneer at Hyundai mipo (2 ships for $32 mill) and seems that restis has also contracted MR’s at STX korea.  Foremost went to SWS for two capes, and the same yard was also chosen by JP morgan for two capes as well costing $44 mill each.

Lets continue with the second hand dry sales. Polaris paid $46,2 mill for the ‘TRF Charleston’ 208,000 dwt built 17 china, the ‘ocean phoenix I’ 82,000 dwt built 07 japan got $13,5 mill and the ‘coral garnet’ 76,000 dwt built 07 japan achieved $13 mill from Erasmus. The ‘BW indigo’ 56,000 dwt built 11 japan 4x30 got $15 mill while the ‘ocean phoenix’ 56,000 dwt built 09 japan 4x30 got $13,5 mill. The ‘golden opus’ 180,000 dwt built 10 korea got $29 mill from songa, the ‘precious wind’ 52,000 dwt built 01 japan 4x31 got $6,8 mill and the sisters ‘ voge mia/ voge emma’ both 36,000 dwt built 11 korea 4x30 got $23 mill enbloc. The ‘orient becrux’ 33,000 dwt built 13 japan 4x30 got $13 mill, the ‘astra’ 48,000 dwt built 04 japan 4x30 got $8 mill and the ‘sea majesty’ 32,000 dwt built 08 japan 4x30 got $8,3 mill. JP morgan paid $15,2 mill for the ‘ocean symphony’ 57,000 dwt built 12 philippines 4x30 while the ‘bulk beothuk’ 50,000 dwt built 02 japan got $7 mill.

Lets finish off with the 2^nd hand wet sales. The ‘DS commander’ 311,000 dwt built 99 korea got $16,5 mill from Winson whereas two suezmax resales from DONG A ex Hyundai got sold to international seaways for $55 mill each . The ‘ruby express’ 106,000 dwt built 04 japan got $13 mill, the ‘nord integrity’ 48,000 dwt built 10 japan non imo got $18 mill and AVIN paid $21 mill to acquire enbloc the sisters ‘oriental emerald / oriental ruby’ both 50,000 dwt built 05 korea. Aegean oil sold the ‘jenny’ 45,000 dwt built 02 non IMO for $9,5 mill while the ‘nord independence’ 48,000 dwt built 10 japan non IMO got $17,7 mill