SALE AND PURCHASE MARKET REPORT

 

WEEK ENDING AUGUST 27, 2010

 

 

SECONDHAND

 

 

Tankers

 

Two older vintage MRs have found buyers, one a double hull vessel, “AEGEAN GLORY” (45,691 dwt, Built Hasihama 1992, DH, epoxy coated, coiled, 4 pumps, B&W main engine) which has obtained US$ 7.6 million, the other with double sides only, “CAPETAN COSTIS” (39,542 dwt, Built Onomichi 1989, DS, epoxy coated, coiled, 3 pumps, B&W main engine) at US$ 4.5 million.

 

 

Bulkcarriers

 

The few sales concluded comprise mainly handy size vessels and one Panamax the Indian-built  “GOOD SEASON” (74,905 dwt, Built Cochin 1985, 87,654 cbm grain, Sulzer main engine). Such vessels rarely do well finding buyers on the international market; in this case Indian buyers have stepped up and are said to have agreed to pay US$ 10.5 million.

 

A Chinese resale, “AO LI 2” (35,000 dwt, Built Zhejiang Aoli 2010, cranes 4 x 30 tons, MAN-B&W main engine) has been sold to Greek buyers US$ 26.5 million with early delivery.

 

“ROYAL FOREST” (31,770 dwt, Built Hakodate 1998, 42,178 cbm grain, cranes 4 x 30 tons, Mitsubishi main engine) has again been concluded this time to Turkish buyers at US$ 19.7 million. A sale in June at US$ 20.3 million didn’t go through.

 

Laker “AFRICAN CHALLENGER” (28,215 dwt, Built Naikai 1984, ss due 9/2014, 34,794 cbm grain, cranes 4 x 25 tons, B&W main engine) has been purchased by Greek buyers at US$ 6.5 million.

 

Wismar type “THOR TRAVELLER” (24,232 dwt, Built Mathias, Germany 1985, ss due 11/2010, 29,817 cbm grain, box holds, cranes 4 x 25 tons, MAN main engine, 8,100 ldt) has gone to Singapore buyers at US$ 3.4 million with special survey due – only a whisker above her scrap value.

 

 

Container Vessels

 

Only one vessel reported this week; “ITAL VERDE” (1,033 TEU, 14,265 dwt, Built Nobiskrug 1984, next ss 6/2014,  cranes 2 x 40 tons, MAK main engine) has achieved US$ 2 million “as is” Taranto.

 

 

NEWBUILDINGS

 

A couple of Cape size orders – US$ 55 million in China at Jiangsu Eastern for account of Blue Planet Shipping and excess US$ 60 million each for two vessels in Korea at HHI for Dong-A Tanker Co.  Deliveries in both cases are scheduled for 2012.

 

Following recent orders for VLCCs by Brightoil and Dryships, Wah Kwong follows suit with an order at SWS for one option one vessel at US$ 98 million each for 2013.

 

Three 6,500 cbm LPG/ethylene carriers have been contracted at Dingheng Jiangsu by Anthony Veder. Deliveries are scheduled for 4th quarter 2011 at US$ 30 million each.

 

 

DEMOLITION

 

The courts in Bangladesh have shown no leniency towards the breakers who will be required to introduce green policies to remain in business. Indian buyers have acquired two tankers with delivery Malaysia; four Norwegian-owned RoRo MPP vessels are going to China but the price has not been publicized.

 

Name                                       LDT                 DWT               Built     Price/ldt            Delivery

           

Tankers:

“MORNING GLORY”         6,037               29,999             1988    US$ 405          as is Malaysia

“GRACE STAR”                   7,522               23,814             1984    US$ 405          as is Malaysia

 

Roro/PCCs

“TAMPERE”                            -                    32,135             1979    pnr                   China

 “TOBA”                                   -                    31,396             1979    pnr                   China

 “TOURCOING”                      -                    30,497             1978    pnr                   China

“TAPIOLA”                              -                    30,464             1978    pnr                   China

 

 

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 1539

E-mail:                                     ships@southportatlantic.com

web page:                               www.southportatlantic.com

 

 

Brokers:

                                                Home numbers           Mobile numbers          Yahoo ID

 

Andrew Watson                      561 575 2134              561 371 3001              andrew_southsnp

Erik Wiborg                             561 747 6036              561 346 5070              erikwiborg

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

 

 

Brokers:

                                                Home numbers           Mobile numbers          Yahoo ID

 

Michael T. Corey                     561 624 5150              561 758 5255              mc_southport

Peter J. Tornaben                   561 624 2274              561 308 5000              fixitall_2000

James J. Goughary                 561 625 2295              561 801 0200              jimmyracer

Luis A. Tewes                         561 624 4277              561 346 5200              lt21_2001

Larry Cirillo                              561 741 3600              561 801 0078              lc_southport

Jason Shah                             561 694 9155              561 801 2220              jason_shah_2000

Trygve Skaar                           561 985 0505              561 985 0505              bald_viking

Matthew Corey                        561 691 1633              561 309 1980              mp_corey

Eddie Talamantes                   561 313 2330              561 313 2330              talamantes22