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Weekly Sale & Purchase Report -
February 5th/ "10 ( Week 5 )
Chinese are still dominating the S&P market and this
week they have purchased the majority of the reported 2nd hand sales.
Buyers from all over the world are there to secure tonnage, however price
competition from the high appetite Chinese is stiff. Supply of ships is
stable and the ever increasing number of buyers is pushing prices higher in
the opposite direction to what one would expect given the freight market's
behavior. Ships for sale are seeing an ever increasing number of inspections
and in some cases buyers are prepared to waive inspection to secure a vessel
to stay ahead of the competition.
A typical example is our reported
sale of the M/V “MARVELLOUS” (76K/2002 Japan) sold to Chinese buyers who
waived inspection, for a firm US$ 32 million. The older geared panamax M/V
“CEMTEX ORIENT” (71K/1990 Japan, cr 4 x 25 t) was sold for a very firm US$
15 million to Chinese buyers - a total of 10 buyers inspected her prior to
the sale !!! A good price was also paid for the M/V “WAIMEA” (73K/1997
Korea). The vessel was originally committed to a Chinese buyer in the low
25's however they failed to perform and another Chinese buyer stepped in to
secure the vessel for US$ 25.50 million.
The new building market is
also buzzing as many owners find the prices for new building slots to be
much more realistic than the current hot 2nd hand levels. At the same time
one hopes that when the vessels get delivered in 2011 and onwards the market
may be in a better condition.
Last but not least, the demolition
market is showing resilience with prices holding up at very firm levels
again helping many owners, who decide to scrap their older ships, to achieve
a very good price. We expect the demolition market to remain firm and
active. BULKERS:
“OCEAN COMFORT”
149,477/92 - CSBC - B&W 16,901 - 9HH Sold for $18.8 mill. to Chinese
buyers.
“MARVELLOUS” 75,746/02 - SANOYAS - B&W
15,015 - 7HH Sold for $32 mill. to Chinese buyers basis charter free
delivery in May-July 2010.
“WAIMEA” 73,049/97 -
SAMSUNG - B&W 11,804 - 7HH Sold for $25.5 mill. to Chinese buyers.
“CEMTEX ORIENT” 71,435/90 - HITACHI - B&W 10,360 - 7HH
- C 4X25T Sold for $15 mill. to Chinese buyers.
“SEALINK” 65,020/81 - HYUNDAI - B&W 15,202 - 7HH Sold for $5.7
mill. to Chinese buyers.
“SILVER YANG” 64,080/83 -
DENMARK - B&W 12,601 - 7HH Sold for $6.75 mill. to Chinese buyers.
“SELENDANG NILAM” 47,214/97 - JIANGNAN - SUL 10,697 -
5HH - C 4X30T “SELENDANG INTAN” 47,174/97 - JIANGNAN -
SUL 10,697 - 5HH - C 4X30T Sold for $18 mill. each to undisclosed
buyers.
“STELLAR DREAM” 44,813/91 - SANOYAS - SUL
10,001 - 6HH - C 3X15T Sold for $10.2 mill. to Chinese buyers.
“SILVER BIN” 38,935/86 - BOHAI - SUL 11,101 - 6HH - C 3X15T
Sold for $6.5 mill. to Indonesian buyers.
“CLIPPER
MELODY” 26,068/97 - GUANGZHOU - B&W 6,729 - 5HH - C 4X25T Sold
for $13.5 mill. to undisclosed buyers.
“NEERA NAREE”
25,309/86 - IMABARI - MIT 7,600 - 4HH - C 4X25T Sold for $6.1 mill. to
undisclosed buyers.
“BEAUTY JUNO” 18,769/96 -
SHIKOKU - B&W 6,775 - 4HH - C 3X25T Sold for $10.6 mill. to Chinese
buyers.
TANKERS :
“GAN-SEA”
16,932/09 - TURKEY - B&W 8,565 - COILED - COATED - IGS - SBT - COW - DH
Sold for $20 mill. to undisclosed buyers.
LPG “GAS ETERNITY”
2,998/98 - WATANABE - B&W 3,270 - 3,500 CBM Sold for $7.5 mill. to
Chinese buyers MISCELLANEOUS VESSELS
“SHANGHAI BRIDGE” 67,164/02 - KOYO
MIHARA - SUL 82,105 - 5,576 TEU “LONG BEACH BRIDGE”
67,164/02 - KOYO MIHARA - SUL 82,105 - 5,576 TEU Sold for $20 mill. each
to Greek buyers.
FRESH UNITS FOR SALE
TANKERS “GOLDEN RIVER” 284,497/91 - HYUNDAI - B&W 22,447 - IGS - SBT -
COW - SH Vessel currently inspectable in Korea.
BULKERS
“ARCTIC
TRADER” 48,170/94 - CROATIA - B&W 12,480 - 5HH - C 4X30 T
Vessel currently inspectable in Lanshan, China.
“MATHIOS”
46,678/96 - MITSUI - B&W 1,101 - 5HH - C 4X30 T Vessel inspectable in
Mexico where ETA 20th February.
“EFFORT ONE”
28,250/83 - DALIAN - B&W 10,700 - 5HH - C 4X25 T Vessel inspectable in
Casablanca, Marocco where ETA 9th-10th February.
“HANJIN
ISTANBUL” 27,327/97 - HANJIN - B&W 9,050 - 5HH - C 4X30 T
Vessel currently inspectable in Tianjin, China.
DEMOLITION:
BANGLADESH
M/T “DEVSI” 97,706/85 - 15,737
LDT - USD 365/LDT LPG “SURREY” 17,000/82 -
8,000 LDT - Sold on private terms
INDIA
Cont “GOTHENBURG EXPRESS” 44,969/87 - 16,847 LDT - USD
356/LDT Cont “DELMAS KISSAMA” 26,287/84 - 9,906 LDT -
USD 356/LDT Cont “MSC BULGARIA” 25,684/87 - 13,458 LDT
- USD 368/LDT M/T “PAVAYACU” 25,243/86 - 6,854 LDT -
USD 257/LDT- as is Peru M/T “ADDARRAQ” 23,953/82 -
8,250 LDT - USD 575/LDT (including 740 ton of stainless steel)
M/T “AL FARABI” 23,953/82 - 8,250 LDT - USD 575/LDT (including 740
ton of stainless steel) Cont “MSC PIONEER” 20,832/78 -
9,416 LDT - USD 393/LDT M/V “DANOOSH” (tween) 17,928/78
- 7,760 LDT - EURO 250/LDT - as is Malaysia Cont “MSC IDIL”
10,340/83 - 4,438 LDT - USD 364/LDT
