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Weekly Sale & Purchase
Report . August 15th - 2008 ( Week 33 )
Following the major decline over the past weeks, the dry cargo rates shot up at
the end of the week to makes things interesting for the fall market. However,
most buyers and sellers seemed to be enjoying the summer holidays as there were
very few second hand sales reported with the exception of Wolbern Shipping of
Germany paying $250 million for 9 x 13,000 DWT IMO II new-building resale
chemical tankers that will deliver from Jinse Shipbuilding and Sekwang
Shipbuilding by the end of the first quarter of 2009.
New-building activity remained strong (especially in the VLCC sector) with
several massive orders reported this week. Ocean Tankers booked 6 additional
316,000 DWT VLCC's at Shanghai Waigaoqiao Shipyard (SWS) basis delivery
2011/2012 for region $135 mill. each ($810 mill.) bringing their total to 12
costing some $1.5 BILLION while Wah Kwong ordered 2 x 300,000 DWT VLCC's at
Dalian Shipbuilding for $140 mill. each ($280 mill.) basis delivery 2011 (5
total now) and KOTC announced they booked 4 x high spec VLCC's at Daewoo for
$175 mill. each ($700 mill.) basis delivery 2011. Middle East investors continue
to pump capital into shipping as it was reported this week that Oman Shipping is
planning to raise $4 BILLION by the end of the year to expand its fleet. They
already have 10 new-building VLCC's on order at Daewoo and Hyundai in Korea and
will build VLOC's, products tankers and more VLCCs.
TANKERS:
“TAMARA” 95,793/90 - KOYO - SUL 13,800 - COILED - SBT - IGS -
COW - DH
Sold for $39 mill. to Greek buyer (Oceanfreight).
LPG - “EMERALD STAR” 7,572/92 - ITALY - WART 7,383 - 7,393 CBM
LPG - “SAPPHIRE STAR” 4,825/91 - ITALY - WART 7,380 - 6,120 CBM
LPG - “DIAMOND STAR” 3,444/91 - ITALY - WART 7,383 - 3,344 CBM
LPG - “RUBY STAR” 3,428/90 - ITALY - WART 3,344 - 2,940 CBM
Sold for $70 mill. ‘en bloc’ to Norwegian buyer (DNB Markets). Sale includes 7
year bb back at undisclosed rate.
BULKERS:
“SUNGDONG NB RESALE” 91,800/09 - SUNGDONG - B&W 15,037 - 7HH
Sold for $87 mill. to undisclosed buyer.
“JIANGNAN NB RESALE” 76,000/10 - JIANGNAN - B&W 13,867 - 7HH
Sold for $56 mill. to Chinese buyer (Ningbo).
“JADRAN” 71,229/82 – 3 MAJ - SUL 13,600 - 7HH - 1,466 TEU -
14,190 LDT
Sold for $27 mill. to undisclosed buyer.
“SEAFLOWER” 69,128/95 - KOYO MIHARA - SUL 15,840 - 7HH -
224.98M LOA
Sold for $70 mill. to Chinese buyer. Delivery 9/2008.
“VOGE KATJA” 23,994/98 - KANDA - MIT 7,199 - 4HH - C 4X30T
Sold for $39 mill. to Greek buyer (Freeseas). Sale includes t/c until 4-7/2009
at $32,000/day.
“GLORIOUS” 23,050/80 - HASHIHAMA - MIT 8,000 - 4HH - D 4X25T -
5,762 LDT
Sold for $13 mill. to Greek buyer.
“JIANG JIE” 7,120/80 - NISHI - HAN 3,800 - 2HH - D 2X20T, 2X15T
Sold for $3.9 mill. to undisclosed buyer.
CONTAINERS:
“CSAV PERU” 33,914/98 - GERMANY - B&W 23,384 -
5HO/10HA - 2,478 TEU - C 3X45T
Sold for $41 mill. to undisclosed buyer.
