Harry Vafias: Owners should rethink of placing even more newbuilds

MONTHLY SALE AND PURCHASE REPORT          6/2/18

By  Harry Vafias 

With the dry market deflating once more owners should rethink of placing even more newbuilds after the rush of ordering we have witnessed over the last 6 months…

Bohai won newcastlemax orders from three parties. Berge bulk and fredriksen placed two option two each while RGL ordered one such ship. CSE ordered two more newcastlemaxes at CSBC costing $46 mill each. Cosco agreed with Tianjin xiangagng to build 6 kamsarmaxes, while Lavinia ordered three option one such units at penglai and alpha bulkers agreeing for 4 such units at YZG! China seacon also ordered two such ships at CSSC Huangpu while fredriksen ordered two option two kamsarmaxes at dalian for $25 mill apiece.

YASA went to DACKS for four ultramaxes costing $25 mill each and densay went to jinglu for two such ships! Ocean longevity also ordered two kamsarmaxes at yangzijiang while nisshin ordered 10 ultramaxes at nantong! 2020 bulkers ordered four more newcastlemaxes at new times (having now 8 in total) costing $45 mill each while HTM ordered one ultramax at nantong. Wisdom agreed with imabari to build two 37,000 dwt handies for $24 mill each and also agreed with NACKS to build two ultramaxes!

COSCO shipping energy ordered two more VLCC’s at dalian cosco in addition to the 15 tanker orders it placed 2 months ago! These new ships cost $80 mill each! SNS ordered three panamaxes at GSI while vitol has added two more VLGC’s making them 6 in total at Hyundai. MOL added a single VLGC at Kawasaki and fortune oil ordered two such ships at jiagnan costing $68 mill each ! IMC ordered four option four 55,000 dwt chem tankers at GSI costing $40 mill each while trafigura ordered two VLGC’s at Hyundai and three similar ships were ordered by KOTC at the same yard! HMD won an order from marinvest for two option two products with LGI dual fuel engine costing $44 mill each and DSD went to Hyundai vinashin for one more product. Namura won an order for a VLCC from kyoei.

Lets proceed with the dry second hand sales. The ‘vogue enterprize’ 80,000 dwt built 11 china got $15 mill, the ‘ecola’ 74,000 dwt built 01 china got $8,5 mill and the ‘rose balsam’ 55,000 dwt built 11 japan 4x30 got $16 mill. the ‘azalea sky’ 80,000 dwt built 12 japan got $22,6 mill, the ‘trading fabrizia’ 35,000 dwt built 11 korea 4x35 got $10,3 mill at auction and the ‘pps ambition’ 33,000 dwt built 13 japan 4x30 fetched $15 mill. The ‘key spring’ 80,000 dwt built 12 japan got $22,5 mill, axis bulk paid $15,5 mill for the ‘sea trellis’ 80,000 dwt built 12 china and kasuga kaiun paid $25,5 mill for the saiki resale 61,000 dwt 4x30 ex yard june 18. The ‘poseidon SW’ 55,000 dwt built 08 japan 4x30 got $12,8 mill while the ‘glorious sunshine’ 28,000 dwt built 09 japan 4x31 got $8,5 mill from CSL. Navios paid $22 mill enbloc to buy the ‘seas 14/seas7’ both 74,000 dwt built 06 china, the ‘DN millet’ 58,000 dwt built 11 korea 4x30 achieved $15 mill and nova paid $11,5 mill for the ‘ocean quartz’ 37,000 dwt built 12 korea 4x30.

Lets finish off with the tanker sales. the ‘vega voyager’ 105,000 dwt built 03 korea got $10,8 mill, the ‘ridgebury alice’ 105,000 dwt built 03 japan got $11,3 mill and yuntai paid $9 mill for the ‘energy century’ 70,000 dwt built 03 korea. Avin paid $15,5 mill for the ‘marika’ 166,000 dwt built 04 croatia.