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Weekly Broker: Improving sentiment drives deals

The general sentiment across the dry bulk market seems to be moving in a positive direction finally with a steady performance recorded across all segments in the past week, especially in the larger size segments. This has also been reflected in the stabilised sale and purchase prices. The volume of concluded deals also shot up this week despite the busy schedule in Oslo at Nor-Shipping.

According to Intermodal, capesize average earnings kept moving up in the past week, while the panamax market remained positive. Additionally, rates for the smaller sizes were positive in the Atlantic, but more muted in Asia.

“On the dry bulk side, an interesting week was due, with plenty of transactions coming to light during the same time frame. In line somehow with the overall recovery mode that the market is seemingly under, an amazed volume of deals started to take shape, reversing the sluggish mood of the weeks prior. The highlight of the week was the massive en bloc deal from Star Bulk, which came as huge ‘breather’ to the market right now,” Allied Shipbroking said.

Lion Shipbroking, Advanced Shipping & Trading and Lorentzen & Stemoco all reported the sale of the 2009-built supramax bulker Triton Valk. Dutch owner Triton Navigation sold the Japanese-built 55,000 dwt vessel to Greek interests for $13.1m.

Several shipbroking sources listed the sale of the 1998-built 72,400 dwt panamax bulker Ocean Favour. The Japanese-built vessel was sold by Chinese owner Ocean Longevity to UAE-based buyers for $6.2m.

Allied Shipbroking and Andreas J. Zachariassen reported that Taiwanese owner U-Ming sold its 2004-built 77,600 dwt panamax bulker Cemtex Wisdom to Chinese interest. The CSBC-built vessel has fetched a price of $7.1m.

“On the tanker side, for yet another week we have witnessed an overall boosted market, with many vessels changing hands the last couple of days. The trending here remains the same, MR size segment taking a leading role.

Notwithstanding this, we see some sort of firm interest slowly creeping up for the larger size segments as well, mainly for aframaxes. With buying appetite easily moving around different age and size regions, we can expect this positive trend to continue on for the time being,” Allied Shipbroking said.

Splash has already reported earlier this week on Greek dry bulk operator Diana Shipping entering the tanker market with the acquisition of two 2011-built aframax tankers Maersk Jeddah and Maersk Jamnagar from Maersk Tankers at a price of $30.3m each.

Danish owner Torm also announced this week the acquisition of four 2011-built 51,000 dwt MR tankers CPO AustraliaCPO MalaysiaCPO Singapore and CPO New Zealand from German owner Offen Claus-Peter for $83m in total.

Multiple shipbroking houses reported the sale of the 2010-built 49,000 dwt MR tanker Mariposa. Greek owner Pappadakis family-controlled Kassian Maritime acquired the Japanese-built ship from Samos Steamships for $17.5m

Allied Shipbroking, Lorentzen & Stemoco and Andreas J. Zachariassen all reported that Greek owner Stavros Livanos’ Sun Enterprises has found buyers for its 2005 STX-built MR tanker Strymon. The 47,120 dwt vessel has fetched a price of $ 11m.

Intermodal, Lion Shipbroking and Andreas J. Zachariassen listed the sale of the 1999-built 12,288 dwt product tanker Chemical Distributor. Greek owner Pontos Marine sold the Japanese-built vessel to Indian interest for $4.6m.

In the secondhand containership market, Seasure Shipbroking and Intermodal identified Chinese company Bohai Shipping as the buyer of the 1,740 teu Hansa Marburg. The vessel sold for a price of $6.4m.

According to Braemar ACM Shipbroking report, it is rumoured that the a China-based buyer has tied up two 2008 Imabari-built 1,700 teu boxships – Sinar Subang and Sinar Sangir – for an en bloc price of $17m. Additionally, a Middle-East-based buyer is understood to have agreed a price of approximately $5m on the 2001-built 1,835 teu AS Aries.

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