It has been another active week and generally speaking it is the same selection of buyers chasing after the limited number of ships that are currently available. Competition for modern panamax and supramax tonnage remains stiff and as such, decisive action is required early on in order to successfully acquire ships at the moment. Greek buying interest remains strong and indeed they are reported to be behind the majority of the deals we can report this week.
We understand that the Economou-controlled post-panamax Aegean Sea (93,337-dwt, 2010 Jiangsu New Yangzijiang) has been sold to Chinese buyers for $21.0m. Greek buyers are said to have paid $26.0m for the July resale kamsarmax Sulawesi (82,500-dwt, Wuhu), the sister vessel was reported sold last month for $24.9m.
Clients of Diana Shipping are rumoured to be the successful buyers of the panamax Shoyo (76,942-dwt, 2006 Namura). Over 25 buyers inspected the vessel whilst she was in Onahama, with Diana winning the deal at $19.6m. This is a significant increase on last done – that being the sale of Penda Bulker (76,520-dwt, 2005
Tsuneishi) for $17.5m a couple of weeks ago. Greeks are also said to be behind the purchase of another 2006 built panamax Ocean Shanghai (76,801-dwt, Sasebo). The slightly lower price of $19.2m is explained by her upcoming drydock. The final panamax sale this week is Ikan Kembong (76,447-dwt, 2005 Tsuneishi), also to
Greeks for close to $17.7m.
The 2005 Chinese built supramax Xiamen Sky (53,604-dwt,Xiamen) is reported sold for $11.9m. We understand that she did not inspect well, which may explain in part why she was sold for such a low price.
The 2004 built handysize Pioneer Star (33,540-dwt, Shin Kurushima) has been sold for $14.7m. She was inspected by approximately 15 buyers. The sellers' initial price expectations had been in the region of $13.0m, but the competition pushed her to much firmer levels.
Finally, the smaller handysize bulker Oriente Grace (22,020-dwt, 1994 Saiki) has been sold to undisclosed buyers for $4.0m.
Source: HARTLAND SHIPPING SERVICE
