SALE AND PURCHASE MARKET REPORT

 

WEEK ENDING MAY 18, 2018

 

 

 

 

SECONDHAND

 

 

 

Tankers

 

After five vessels from the Toisa fleet were sold last week, one more is added to the total, LR1 “UNITED BANNER” (73,584 dwt, Built New Century 2007, epoxy, MAN-B&W) which is reported to Laliotis with no price details at this stage.

 

Scorpio Tankers is selling five vessels to a Chinese leasing company against 8 years bareboat back with purchase options baked in for the duration and a purchase obligation at the end. The vessels are:

 

m.t. “STI RAMBLA” – 112,200 dwt, Built Sungdong 2017

m.t. “STI ROSE” – 109,999 dwt, Built Daehan 2015

m.t. “STI BROOKLYN” – 49,990 dwt, Built SPP 2015

* m.t. “STI FONTVIEILLE” – 49,990 dwt, Built Hyundai Mipo 2013

* m.t. “STI VILLE” – 49,990 dwt, Built Hyundai Mipo 2013

 

* indicating that the sales of these two vessels to PCL Singapore reported FH April did not reach fruition.

 

Offen is selling the MR1 sisters “CPO LARISA ATHENA”  and “CPO LARISA ARTEMIS” (37,384 ldt, Built Hyundai Mipo 2004, IMO III, epoxy, 12 tanks/pumps, B&W) for US$ 7.8 million each.

 

International Seaways’ “SEAWAYS JOSEFA CAMEJO” (112,200 dwt, Built Hyundai H.I. 2001, 3 pumps, B&W) is changing hands for US$ 9.5 million; Oasis Maritime, UAE is the buyer.

 

 

 

 

Bulkcarriers

                                                   

BDI 1273 (1472) down 199.  The TCE average for Cape sizes sank by almost 25% through the week, ending at US$ 15,712 pd from US$ 20,686 pd last Friday.

 

Star Bulk, following its recent acquisition of the Augustea fleet is purchasing the bulkcarrier fleet of Songa, Norway comprising the following Capes and Kamsarmaxes, plus one ultra and one Supra. Payment consists of part cash and part shares:

 

“SONGA CLAUDINE” – 181,258 dwt, built STX 2011

“SONGA OPUS” – 180,716 dwt, built STX 2010

“SONGA MOUNTAIN” – 179,147 dwt, built Hyundai H.I., 2009

“SONGA HIROSE” – 83,494 dwt, built Sanoyas 2011

“SONGA MARU” – 82,687 dwt, built Tsuneishi, Japan 2008

“SONGA GRAIN” – 82,672 dwt, built Tsuneishi, Japan  2008

“SONGA MOON” – 82,188 dwt, built Tsuneishi, Japan  2012

“SONGA HADONG” – 82,158 dwt, built Tsuneishi, Japan  2012

“SONGA DEVI” – 81,918 dwt, built Tsuneishi, Japan  2014

“SONGA DELMAR” – 82,502 dwt, built Hyundai Samho 2011

“SONGA SKY” – 81,466 dwt, built Universal 2010

“SONGA GENESIS” – 80,705 dwt, built STX  2010

“SONGA FLAMA” – 80,448 dwt, built STX  2011

“SONGA WAVE” – 61,491 dwt, built Dacks 2017

“SONGA GLORY” – 58,680 dwt, built Nacks 2012

 

+++

 

Comparatively, the number of single sales for the week is rather small with only a handful of deals reported. The tally includes the second Kamsarmax from the Toisa fleet, “TRADE SPIRIT” (82,045 dwt, Built Jiangsu Newyangzi 2016, MAN-B&W) which Greek interests are buying for US$ 24.5 million; this follows last week’s sale of sister “TRADE QUEST” (82,042 dwt, Built 2016) at a similar level.

 

Pacific Basin is buying “GERALDINE MANX” (58,058 dwt, Built 2010 Tsuneishi Zhoushan, cranes 4 x 30 tons, MAN-B&W) for US$ 15.5 million. In addition, Pacific Basin have purchased an Ultramax and two handies but their identities have not been made public yet.

 

Japanese-controlled handy “CIELO DI TOKYO” (37,296 dwt, Built Saiki 2008, cranes 4 x 30 tons, Mitsubishi main engine) has been sold for US$ 11.75 million.

 

Vintage Supramax “ANNA” (52,466 dwt, Built Sanoyas 2002, cranes 4 x 30 tons, B&W) achieved in the high US$ 8 millions from Chinese buyers, “ALITHINI” (50,296 dwt, Built Mitsui 2001, cranes 4 x 30 tons, MAN-B&W) went for US$ 8.4 million.

 

An older handy, “UBC BATON ROUGE” (24,035 dwt, Built Saiki 1998, cranes 4 x 30 tons, Mitsubishi) did well at US$ 4.8 million despite being due for drydocking next month.

 

 

NEWBUILDINGS

 

NewcastlemaxSinokor, Korea has ordered up to twenty (four firm, sixteen options) at Jinhai, China for delivery 2020.

 

Ultramax - Nisshin Shipping has contracted six option three 64,000 dwt Ultramax types at US$ 25 million each for delivery 2020.

 

Aframax – CMB have ordered in the Phillipines at Hanjin Subic, two option two 115,000 dwt for delivery from 2020, price reg US$ 45.5 million each. TEN’s order is for two of the same size at Daehan, Korea for delivery 10/2019 and 1/2020.

 

Containers - Costamare and Shoei Kisen have each ordered 5 x 12,000 TEU container vessels against 5 year timecharters to Yangming at US$ 30,000 per day.  Costamare’s order is at Yangzijiang (with 5 options), Shoei Kisen’s at Imabari; deliveries SH 2020.

 

 

 

 

DEMOLITION

 

 

Recent sales include:

 

Name:                                    LDT:                DWT:              Built:   Price:              Delivery

 

 

Tankers:

 

“RIDGEBURY PIONEER” 42,420            303,697          1999   US$ 408        as is Khor

                                                                                                                                    Fakkan

“OIL RUNNER”                   27,381            126,360          1997   US$ 470        as is Khor

                                                (high specification including 6 generators)          Fakkan

 

 

Self-disch bulkcarrier:                     

 

“SMT BONTRUP”              15,109            42,980            1979   US$ 434        India

                                                (green recycling)                                         

 

                                                                       

                       

                                               

Regards

Southport Atlantic


Sale & Purchase:

 

Southport Atlantic

 

11380 Prosperity Farms Road

Suite 104

Palm Beach Gardens, FL 33410

United States

 

Telephone:                            561 775 3323

Fax:                                        561 775 3454

E-mail:                                    ships@southportatlantic.com

web page:                             www.southportatlantic.com

 

 

Brokers:

                                              Home numbers    Mobile numbers           Ice Messenger ID

 

Andrew Watson                   561 575 2134     561 371 3001                 andrew_southsnp

Howard Yaffe                       561 746 5535     561 386 1504                 hfy_southport

 

 

Tanker Chartering:

 

Southport Maritime Inc.

 

Telephone:                            561 775 3333

Fax:                                        561 775 3344

E-mail - Chartering:             fix@southportmaritime.com

E-mail – Ops/Claims/CP:    ops@southportmaritime.com

Order Line:                            561 775 3322