{"id":7014,"date":"2020-03-30T04:55:23","date_gmt":"2020-03-30T01:55:23","guid":{"rendered":"https:\/\/www.al-sindbad.net\/weekly-broker-lethargy-a-symptom-of-the-virus\/7014\/"},"modified":"2020-03-30T04:55:23","modified_gmt":"2020-03-30T01:55:23","slug":"weekly-broker-lethargy-a-symptom-of-the-virus","status":"publish","type":"post","link":"https:\/\/www.al-sindbad.net\/weekly-broker-lethargy-a-symptom-of-the-virus\/7014\/","title":{"rendered":"Weekly Broker: Lethargy a symptom of the virus"},"content":{"rendered":"

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Deals for secondhand tonnage are drying up quicker than people\u2019s throats.<\/p>\n

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There\u2019s the logistics of sealing a deal first up \u2013 being able to inspect a ship and get your crew to it has never been more tricky. Then owners are having to factor in the ramifications of a looming global recession, asking themselves is now really the time to be shelling out for more ships.<\/p>\n

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Allied Shipbroking noted that on the dry bulk S&P side, it\u2019s been another quiet week, establishing even more emphatically the poor appetite surrounding the market.<\/p>\n

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\u201cThis is far from surprising, given the turbulent trajectory from the side of earnings and perplexed feeling among investors since the Covid-19 outbreak. Despite the modest effort noted in the capesize market during the last few days, it will take a lot more time before we are able to witness any robust confidence return to the dry bulk market as a whole,\u201d Allied Shipbroking noted this week.<\/p>\n

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A host of brokers all reported that Japanese owner Mitsuhama Kisen sold its 2012-built 78,000 dwt panamax bulker Coral Amber<\/span> for $14.5m. Indonesian owner Asian Bulk Logistics has been identified as the buyer of the Japanese-built vessel.<\/p>\n

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Multiple shipbroking houses all reported that Chinese owner Shining International has sold its only two vessels \u2013 the 2015-Chinese-built 38,900 dwt Smart Lisa<\/span> and Smart Tina<\/span> \u2013 to German buyers for around $12m each.<\/p>\n

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Unlike every other segment in shipping right now, there is plenty of action in tankers thanks to the oil price wars between Russia and Saudi Arabia.<\/p>\n

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\u201cOn the tankers side, it was another interesting week in terms of S&P activity taking place. Given the recent trends in respect to realized returns, the steep increase in buying appetite was a rather logical result, especially when considering how pessimistic the current view is for almost all other types of assets available in global markets at this point. All-in-all, with the excessive boost noted in freight rates, we expect a relatively strong S&P market to continue,\u201d Allied Shipbroking said.<\/p>\n

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Allied Shipbroking and Lorentzen & Stemoco both reported a deal in which Saudi Arabian owner Bahri sold its 1996-built 300,400 dwt VLCC Gringo<\/span> to Singapore buyers for storage uses. The Japanese-built vessel has fetched a price of $21m.<\/p>\n

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Advanced Shipping & Trading, Intermodal and Banchero Costa all listed the sale of the 2003-built VLCC Bunga Kasturi<\/span>. Malaysian owner AET sold the Japanese vessel to Indian buyers for storage for $32m.<\/p>\n

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Both Allied Shipbroking and Lorentzen & Stemoco reported an en bloc sale deal in which Danish owner Norden sold two 2007-built 37,100 dwt MR tankers Nord Hummock<\/span> and Nord Highlander<\/span> to undisclosed buyers at $13.5m each. The deal also includes a two-year charter back arrangement.<\/p>\n

splash247<\/p>\n","protected":false},"excerpt":{"rendered":"

Deals for secondhand tonnage are drying up quicker than people\u2019s throats. There\u2019s the logistics of sealing a deal first up \u2013 being able to inspect a ship and get your crew to it has never been more tricky. Then owners are having to factor in the ramifications of a looming global recession, asking themselves is …<\/p>\n","protected":false},"author":1,"featured_media":7015,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[58],"tags":[1367,3890,3891,1913,1366],"class_list":["post-7014","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tanker-news","tag-broker","tag-lethargy","tag-symptom","tag-virus","tag-weekly"],"_links":{"self":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts\/7014","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/comments?post=7014"}],"version-history":[{"count":0,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts\/7014\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/media\/7015"}],"wp:attachment":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/media?parent=7014"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/categories?post=7014"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/tags?post=7014"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}