SALE AND PURCHASE MARKET REPORT

 

WEEK ENDING MAY 11, 2012

 

 

SECONDHAND

 

 

Tankers

 

It has been confirmed that Polembros, who last week purchased “BUNGA KELANA SATU”,  have now acquired the sister vessel “BUNGA KELANA DUA”(105,976 dwt, Built Hyundai 1997, 3 pumps, MAN-B&W main engine) for US$ 8.8 million with special survey due.

 

Product carrier “ALHPA POWER” (8,339 dwt, Built Atlantis, Singapore 1996, epoxy coated, 3 pumps, Wartsila main engine) has been sold for US$ 3.65 million; 1995-built sister vessels “ALPHA PROSPERITY” and “ALPHA PRESTIGE” have obtained the same level.

 

Buyers gave agreed to pay US$ 7.25 million for “ANGIMAR” (5,841 dwt, Built Sahin Celik Sanayi 2001, IMO II, 11 tanks/pumps, epoxy coated, coiled, Mak main engine).

 

Stainless steel chemical tanker “VICTORY OCEAN” (19,481 dwt, Built Shin Kurushima 1997, IMO II/III, 18 tanks/pumps, Mitsubishi main engine) has been sold within Japan for US$ 10.9 million.

 

AMPTC has sold the pressurized type LPG carrier “UMM SHAIF” (3,208 cbm, Built Kanrei 1991, pressurized, Mitsubshi main engine) at a price of US$ 2.5 million.

 

 

Bulkcarriers

 

In a domestic transaction in Japan, K-Line has sold “CAPE ORCHID” (172,569 dwt, Built NKK 2001, 191,720 cbm grain, B&W main engine) to Japanese buyers for US$ 25 million against 3 years bareboat back.

 

Panamax “RUBY CREST” (73,330 dwt, Built Halla 1997, 86,082 cbm grain, B&W main engine) has been sold to Chinese buyers for US$ 11.5 million while “EASTERN QUEEN” (70,196 dwt, Built Daewoo 1994, 82,210 cbm grain, B&W main engine) which failed in January at US$ 11 million has now obtained US$ 9.2 million.

 

In an en bloc sale the handymaxes “SERASIH 2” (48,913 dwt, Built IHI 1999, dd passed 4/2012, 61,553 cbm grain, cranes 4 x 25 tons, Sulzer main engine) and  “SELARAS” (45,734 dwt, Built Tsuneishi 1994, 57,175 cbm grain, cranes 4 x 25 tons, B&W main engine) have been sold for a combined US$ 20.5 million with a suggested breakdown of US$ 11.5 million/US$ 9 million.

 

Bangladeshi buyers have agreed to buy the open hatch box-holds “SANKO RALLY” (42,529 dwt, Built Namura 1994, 8 holds/hatches, 47,753 cbm grain, cranes 4 x 30 tons, B&W main engine) for US$ 9 million. Comparitively, the larger/ and newer but Ukraine-built “MASTRO GIORGIS II” (52,370 dwt, Built Zavod 1995, 8 holds/hatches, 60,160 cbm grain, cranes 4 x 30 tons, B&W main engine) obtained only US$ 7.2 million from Indian buyers.

 

The box-shaped holds type “APOLLO” (27,812 dwt, Built Naikai 1996, 36,254 cbm grain, cranes 4 x 30 tons, B&W main engine) has been committed at a price of around US$ 8.1/8.2 million.

 

 

Container Vessels

 

Two more MISC vessels have been concluded with these gearless vessels going to Sea Consortium at US$ 5.9 million each: “BUNGA TERATAI 3” and “BUNGA TERATAI 4” (1,725 TEU, 24,554 dwt, Built Daewoo 1998, B&W main engine).

 

German buyers are paying US$ 5 million for “WARNOWWERFT” (1,608 TEU, 22,250 dwt, Built MTW 1996, cranes 3 x 40 tons, Sulzer main engine).

 

The gearless sister vessels “ACX CHERRY” and “ACX COSMOS” (1,241 TEU, 18,106 dwt, Built Imabari 1994/1995 resp., Mitsubishi main engine, 18 knots) are sold for a price of US$ 7.75 million en bloc.

 

 

Tweendeckers

 

 

NEWBUILDINGS

 

Several new orders for MR product carriers have emerged; based on recent estimates the pace of ordering in this sector is accelerating. Firm orders for more than 100 MRs have been placed since the beginning of 2011, and almost 50 since the beginning of 2012. Amongst the newest orders, Stena Weco has ordered six firm  50,000 dwt units at Guangzhou with options up to four more at US$ 31.5-32 million each while J.P.Morgan/Livanos has gone to SPP for four option four vessels of the same size at US$ 33.5 million each. Deliveries in both cases start in first quarter 2014. The four firm JPM/Livanos vessels will be timechartered for 5 years to Valero.

 

In other tanker orders the Japanese JX group has ordered two 310,000 dwt VLCCs of 310,00 dwt from IHI for 2014,; these will cost US$ 100 mill each. Fredricksen’s Seatankers has gone to Dalian for two option two Aframaxes at US$ 44 million with deliveries late 2013/early 2014.

 

Six 76,000 dwt Panamax bulkcarriers have been placed by Shenhua Zhonghai Shipping at Jiangnan for 2013/2014. The contracts are in RMB at equivalent to US$ 28 million per vessel.

 

 

DEMOLITION

 

Name                                       LDT                 DWT               Built     Price/ldt            Delivery

 

Tankers:

 

“ANJASMORO”                  10,830             32,696             1996    US$ 490          Singapore

 

 

Chemical Tankers:

 

“BOW FERTILITY”             12,199               45,507           1987    US$ 530          India

“BOW PRIDE”                     12,199               45,655           1987    US$ 530          India

                                                (both of the above with about 220 tons of stainless steel)

 

Bulkcarriers:

 

“GLORY FUZHOU”             24,289             153,572           1989    US$ 484          Bangladesh

“GLORY RIZHAO”              23,269             169,381           1991    US$ 484          Bangladesh

“TRANS GULF”                   16,997               81,659           1982    US$ 446          India

“KS CHALLENGER”            9,076               42,239           1984    US$ 485          Bangladesh

“KS FRONTIER”                   8,126               42,239           1984    US$ 485          Bangladesh

“MOHAVE MAIDEN”          6,825               28,074           1984    US$ 471          Pakistan

 

Container vessel:

 

“MSC FINLAND”                15,957               40,928           1986    US$ 475          India

 

 

Reefers:

 

“BRAZILIAN LADY”            5,827                 6,333           1987    US$ 453          India

 “SILVER                                 4,092                 6,801           1990    US$ 435          India

            STOCKHOLM”

 

 

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                                                                 561 346 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