The dry freight market remains at elevated levels

By

 Harry Vafias

The dry freight market remains at elevated levels and is spurring optimism to the owners and unfortunately more newbuild contracts are still getting signed… whereas tankers and  containerships are still struggling but demolition hasn’t really picked up a lot!

Easter pacific ordered two ultramaxes at DACKS and follows on their recent order for four 14,000 teu containers in Hyundai! Interocean agreed with yangzijiang to build a single kamsarmax for $24 mill while POSCO is looking to order a series of dual fueled capes! Korea line ordered two 325,000 VLOC’s costing $75 mill each at Hyundai while Polaris exercised options for five similar ships also at Hyundai. Polaris has now ordered 18 VLOC’s for long charter to Vale which is not good news for capes!!! Celsius went at yangfan for two ultramaxes and also bought three resales from the same yard at $20 mill each! Zihni ordered one option one kamsarmax at yangzijiang while wilmar agreed with chengxi to build four 64,000 dwt wood chip carriers. Sasebo  won an order for a single kamsarmax from ZG halcoussis costing $27 mill.

Bank of communications ordered two suezmaxes at new times bringing the total order to six ships  and have another 20 tankers on order at Hyundai for long charter to trafigura! Vitol exercised options for two 84,000 cbm VLGC’s at Hyundai costing region $75 mill apiece.

Lets continue with the second hand dry transactions. The ‘choully’ 181,000 dwt built 16 japan got $44 mill from TCC, the ‘cape triumph’ 176,000 dwt built 04 japan got $14,5 mill and Italians paid $16 mill for the ‘yangze navigation’ 93,000 dwt built 10 china. The ‘bulk india’ 177,000 dwt built 04 japan got $15,2 mill, the ‘KSL huayang’ 50,000 dwt built 2000 4x30 got $7,8 mill and the ‘guan hai 228’ 80,000 dwt built 12 china got $15 mill at auction.The ‘ADS kristiansand’ 76,000 dwt built 08 japan got $15 mill, the ‘ocean hawk’ 56,000 dwt built 07 japan 4x30 fetched $13 mill and the ‘ocean friend’ 52,000 dwt built 09 japan open hatch 4x30 achieved $12,3 mill. The ‘smolensk’ 56,000 dwt built 12 china 4x30 got $13 mill, the ‘neptune pioneer’ 55,000 dwt built 07 4x30 got $12,8 mill and diligent paid $14,6 mill to acquire the ‘ nonna ulia’ 55,000 dwt built 10 japan 4x30. The ‘chang hua’ 53,000 dwt built 12 china 4x30 got $10,2 mill, the ‘galene M’ 33,000 dwt built 11 japan 4x30 got $12,5 mill and the four sisters ‘clipper trader/titan/tradition/terminus’ all 30,000 dwt built 08/09/09/10 respectively 4x30 got $29 mill enbloc! The ‘teng hang’ 35,000 dwt built 11 china 4x30 got $8 mill and the ‘clipper kasashio’ 32,000 dwt built 08 japan 4x30 got $9,2 mill.

Lets finish off with the wet sales. The ‘gener8 poseidon’ 305,000 dwt built 02 korea got $21,5 mill, the ‘fujikawa’ 300,000 dwt built 04 japan got $27,2 mill from dynacom, the ‘gener8 argus’ 160,000 dwt built 2000 korea achieved $10,8 mill, the ‘ocean mare’ 106,000 dwt built 06 korea laid up and SS due got $13,6 mill from LL energy and the ‘ocean pearl’ 47,000 dwt built 08 japan got $16,5 mill from Ardmore. The ‘gener8 zeus’ 318,000 dwt built 10 korea got $52,5 mill from international seaway (ex OSG) and NGM paid $16mill for the ‘aldebaran’ 109,000 dwt built 07 china coated.