SALE AND PURCHASE MARKET REPORT

 

WEEK ENDING JANUARY 20, 2012

 

 

SECONDHAND

 

 

Tankers

 

In Hong Kong, VLCC “SAMHO DREAM” (319,360 dwt, Built Samho 2002, B&W main engine) was sold under the auspices of the Admiralty Marshall to Aeolos Management for US$ 28.3 million, having been bought by her former Owners from Dynacom for US$ 136.5 million in 2007. From April to November, 2010 she was in the hands of Somali pirates.

 

In Denmark a further two Ocean Tankers vessels were auctioned. “HARTZI” (15,441 dwt, Built Aker Werft 1999, Marineline coating, 3 pumps, B&W main engine) was sold to Wilmar Tankers, Singapore for US$ 7.3 million; sister  “SKLEDROS” (1999) went to Greek interests at US$ 7 million.

 

Wilmar also purchased Dorval Kaiun’s “GOLDEN WILLING” (12,999 dwt, Built Miura Zosen  2009, Marineline coating, 16 tanks/pumps, MAN-B&W main engine) for US$ 12.4 million.

 

The stainless steel “CHEMICAL STAR” (12,716 dwt, Built Asakawa Zosen 2000, all 24 tanks SUS316L, 21 pumps, B&W main engine) has been sold for US$ 8 million.

 

LPG

 

Indonesian buyers have purchased “REFERENCE POINT” (78,476 cbm, Built Mitsubishi 1991, Mitsubishi main engine) for US$ 25.2 million. The sellers, Petredec purchased the vessel as “SUNWAY” for US$ 14 million just over two years ago.

 

Bulkcarriers

 

The plummeting freight rates since the beginning of the year have inevitably sapped buying confidence and sales are few. Lunar New Year holidays in the East are about to commence; it may be argued this makes little difference on so dismal a market.

 

The COSCO handymax “SEA BANIAN” (45,724 dwt, Built Tsuneishi 2000, 57,208 cbm grain, cranes 4 x 25 tons, B&W main engine) is confirmed sold at US$ 14.25 million to Greek buyers Sicuro S.A.

 

In Panamaxes, the craned “B  ASIA” (70,424 dwt, Built Hyundai 1990, next ss 4/2015, 82,975 cbm grain, cranes 4 x 25 tons, B&W main engine) is going to Chinese buyers at US$ 7.3 million, a bit less than the US$ 7.85 million obtained by the sister “B INDONESIA” in December. An older Panamax, “SD VICTORY” (69,585 dwt, Built Hashihama 1986, 81,803 cbm grain, B&W main engine) has been sold for just excess US$ 5 million.

 

Four older lakes beam vessels have been concluded:

 

“INVIKEN” (30,070 dwt, Built AESA 1986, 40,668 cbm grain, cranes 4 x 16 tons, B&W main engine) to European buyers at US$ 3.9 million;

 

“CALLIROE PATRONICOLA” (29,608 dwt, Built NKK 1985, next ss 7/2015, 39,317 cbm grain, cranes 4 x 16 tons, Sukzer main engine) and sister “OLYMPIC MELODY” (1984) to Syrian interests at US$ 5.25 mill each;

 

“KYKLADES” (28,268 dwt, Built Dalian 1982, 39,750 cbm grain, cranes 4 x 25 tons, B&W main engine, 7,817 ldt) for US$ 2.85 million at auction at Eleusis, Greece. This price is quite a bit below delivered scrap price so she may be destined for a “voyage out”.

 

 

Container Vessels

 

One sale only to report, “WERDER BREMEN” (700 TEU, 7,144 dwt, Built Sietas 1999, gearless, MAN main engine) – sold at EUR 2.5 million which today is about US$ 3.2 million.

 

 

NEWBUILDINGS

 

Efnav, Greece has ordered four option two 82,000 dwt bulkcarriers from STX Korea at US$ 33.5 million per vessel for delivery 2013.

 

 One coated Aframax of 110,000 dwt has been placed with China Shipping Industrial, Jiangsu by CSDC, Hong Kong. A price of US$ 53.25 million is reported with delivery 4th quarter 2013.

 

 

DEMOLITION

 

A substantial volume of tonnage has been sold including two Suezmax tankers and five large bulkcarriers of which two are Capes. A further two Suezmax tankers have been committed en bloc to Bangladesh (at US$ 510/ldt) but in light of the ongoing mayhem in that market it can’t be characterized as a “done deal”, at least not yet.

 

Name                                       LDT                DWT               Built    Price/ldt           Delivery

 

Tankers:                                 

 

“TRIDONAWATI”              20,502             154,970           1991    US$ 507.50     Pakistan

“TRIDRASA”                       20,502             154,970           1991    US$ 507.50     Pakistan

 “BOW PROSPER”             12,200               45,655           1987    US$ 525          India

                                                (includes about 250 tons stainless steel)

“ANGGRAINI”                    10,830               31,225           1995    US$ 517          India

 

Bulkcarriers:

 

“SETSUYO STAR”             24,077             170,808           1985    US$ 470          India

“DONG-A HERMES”         21,938             145,856           1992    US$ 447          China

“LEMNO”                             14,425               86,722           1982    US$ 490          India

“CASTILLO DE                  13,200               75,497           1981    US$ 485          India

              SOUTOMAIOR”

“LIONESS C”                       10,471               66,713           1983    US$ 468          China

                                                (incl. 500 tons bunkers)

“MEGA ACE”                        9,448               41,216           1982    US$ 447          China

                                                (incl. 240 tons bunkers)

“SEA WAVE”                        8,770               45,090           1984    US$ 470          China

“TOP ADVANCER”             8,055               25,855           1983    US$ 489          India

“PEARL OF SEA”                 6,594               29,159           1984    US$ 464          China

“NAMA”                                 4,660               14,312           1988    US$ 482          India

 

OBO:

 

“SAFEER EXPRESS”        12,281               54,500           1983    US$ 500          “as is” off

                                                                                                                                    Chittagong

 

Container vessels:

 

“MSC CARINA”                  15,553               45,725           1986    US$ 514          India

“MSC RUGBY”                   13,672               30,941           1983    US$ 523          India

“AL IHSA’A”                       12,861               35,615           1983    US$ 501          as is

                                                                                                                                    Khor Fakkan

“VENTURA I”                       5,551                 7,733           1995    US$ 574          as is

                                                                                                                                    Fujairah

 

Tweendecker:

 

“ESTEEM C”                         9,532               21,725           1986    US$ 445          China

                                                (incl. about 360 tons bunkers)

 

Roro:

 

“NORCAPE”                          4,687                 6,309           1979    US$ 347          Turkey

 

 

 

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

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