A Review of the Past Week in Shipping Industry

Hopp in its weekly market report offered an analysis regarding sale & purchase, new building, time charter and demolition sectors.

News ID: 76326

Date: 17 September 2017 - 08:37

Sale & Purchase

In dry market, Cartigny (182k dwt/2016) & Chevrier (182k dwt/2016) were sold to JP Morgan on enbloc basis for USD 44.8m per ship, showing an improvement in the dry bulk assets valuation. NPS Century (172k dwt/2000) was sold to undisclosed buyer for USD 12m. Navies Altair (83k dwt/2006) was sold to Greek buyer for USD 14.Sm. Vincent Shipping purchased on enbloc basis and at an undisclosed price Eagle Strait (57k dwt/2007) & Essex Strait (57k dwt/2007). Nord Glory (55k dwt/2010) went to Unisea Shipping for USD 14.4m. Desert Serenity (53k dwt/2008) was sold to a Far Eastern buyer for USD 9.2m. In tanker market, suezmax RS Tara (160k dwt/2016) was sold to Cardiff at USD 51m. Spring Marine took Neptune Voyager (104k dwt/2003) & Stellar Voyager (104k dwt/2003) for USD 10.2m per ship. In containership market, CPO Savannah (4,255 TEU/2009) was sold to undisclosed buyer for USD 10.2m. Ursula (1,728 TEU/2009) was sold to Orient Express for USD 3.5m. In offshore market, Brazilian Navy purchased on enbloc basis AHTS Sea Stoat (1,923 dwt/2011), Sea Fox (1,923 dwt/2011) and Sea Vixen (1,350 dwt/2011) for USD 24m.

New Building

In the new building market, NYK ordered 3 units of VLCC (300k dwt) at JMU, Japan for USD 80m, with delivery in 2019. They also ordered another VLCC (300k dwt) at Namura, Japan for USD 80m, with delivery in 2019. Both the ships have a backing of 5-year TC. DSD Shipping preferred Hyundai Vinashin, Vietnam for 2 units of MR tankers (50k dwt) at USD 32m per ship, with delivery expected in 2019-2020. A few other deals were also reported in this segment.

Time Charter

In tanker market, aframax Stealth Norvic (115k dwt/2010) was fixed to Maersk Tankers for 12 months at USD 13,000 pdpr. Maersk Cancun (50k dwt/2017) was fixed to Clearlake for 12 months at USD 14,750 pdpr. In dry market, Heng Shun (208k dwt/2011) was fixed to SwissMarine for 6 months at USD 20,000 pdpr. Bunge Ltd. took Xin Chang Hai (180k dwt/2017) for 6 months at USD 17,700 pdpr. Peace Ark (93k dwt/2010) was fixed to Ausca Shiiping for 6 months at USD 13,000 pdpr. Athinoula (82k dwt/2012) was fixed to Starboard for 36 months at USD 9,500 pdpr, including 50-50 profit sharing. Medi Chiba (82k dwt/2016) was fixed to Al Ghurair for 12 months at USD 13,500 pdpr. Star Suzanna (81k dwt/2013) was fixed to Phaeton Shipping for 6 months at USD 12,500 pdpr. Marubeni took Prabhu Das (76k dwt/2005) for 6 months at USD 11,000 pdpr. Pacific Basin took Navies Ulysses (55k dwt/2007) for 6 months at USD 10,000 pdpr. In containership segment, Kata Cantik (6,606 TEU/2012) was fixed to COSCO for 9 months at USD 7,266 pdpr. COSCO also took 5 other panamax size containerships (4,253 TEU/4,250 TEU) for 9 months each at USD 4,675 pdpr.

Demolition

In demolition market, bulker Stellar Cosmo (40,000 LDT/1992) was sold at USD 423/LDT LT with delivery options to India/Pakistan. Containership MSC Mykonos (23,451 LDT/1988) was sold for 425/LDT LT with delivery to Indian Breakers. Containership Seven Seas (21,436 LDT /2005) was sold as is Port Said at USD 415/LDT LT, with delivery to Pakistani Breakers. A couple of more deals were also reported for demolition.