Monday, December 15, 2008
CLARKSON HELLAS S&P WEEKLY BULLETIN 15th DECEMBER 2008
Tuesday, 16 December 2008
S & P - A STEADY FLOW OF DEALS HAVE BEEN TRANSACTED THIS WEEK WITH A REASONABLE LEVEL OF ENQUIRY FOR ALL TYPES OF BULKER. IN THE PANAMAX SECTOR, THE M/V SWIFT FLIGHT (69,235 DWT 1983 BLT IHI) REPORTED SOLD FOR US$ 4.75M TO CHINESE INTERESTS. THE SHIP PASSED SS+DD IN SEPTEMBER 2008. THE INDIAN CONTROLLED M/V RANI PADMINI
DRY CARGO VESSELS
VESSEL
DWT
BLT
DETAILS
SS/DD
PRICE
BUYER
RANI PADMINI
76.184
1981 COCHIN
B+W
-
USD 4M
SOLD TO UNDISCLOSED BUYERS (ASIS)
SWIFT FLIGHT
64.583
1983 IHI
SULZER 5RLB76
SS 9/08
DD 9/06
USD 4.75M
SOLD TO CHINESE BUYERS
JAG RANI
41.545
1984 MITSUI
B+W 6L60MC-E
C 4X25
-
USD 4.25M
SOLD TO CHINESE BUYERS
NIKOLAO P.
34.750
1984 SPAIN
B+W 5L67GFCA
C 4X25
SS 3/09
DD 3/09
USD 2.8M
SOLD TO UNDISCLOSED BUYERS
SWIFTSURE
32.770
1980 KANDA
SULZE 7RND68M C 4X25
SS 8/05
DD 8/05
USD 2.5M
SOLD TO CHINESE BUYERS
WOODY
29.192
1984 HAKODATE
B+W 6L60MC-E
C 5X25
SS 5/04
DD 5/04
USD 2.7M
SOLD TO GREEK BUYERS
PRINCE RUPERT
28.685
2000 IMABARI
B+W 6L50MC C 4X30.5
SS 1/10
DD 12/07
USD 18M
SOLD TO INDIAN BUYERS
CAPTAIN CORELLI
28.378
2001 IMABARI
B+W 6S42MC
C 4X30.5
SS 1/11
DD 11/08
USD 19M
MILO
27.223
1984 HITACHI
SULZER 6RTA58
C 4X25
-
USD 2.7M
SOLD TO UNDISCLOSED BUYERS
ARETOUSA
24.715
1979 NKK
SULZER 6RND68
SS 4/10
DD 5/08
USD 1.6M
SOLD TO SYRIAN BUYERS
ANGELIA P.
22.549
1979 IHI
PIEL 16PC-2V-400 C 5X15
SS 12/08
DD 12/08
USD 1.5M
SOLD TO SYRIAN BUYERS
TANKERS
VESSEL
DWT
BLT
DETAILS
SS/DD
PRICE
BUYER
NO SALE TO REPORT THIS WEEK
TWEEN - CONTAINERS – REEFERS – RORO
VESSEL
DWT
BLT
DETAILS
SS/DD
PRICE
BUYER
NO SALE TO REPORT THIS WEEK
DEMO
VESSEL
DWT
BLT
DETAILS
SS/DD
PRICE
BUYER
ACAMAR
(BC)
61.709
1977 HITACHI
11.264 LDT
-
USD 275/LDT
BANGLADESH
AMBER
(BC)
63.787
1978 MITSUBISHI
13.933 LDT
-
USD 275/LDT
BANGLADESH
EVINOS
(TNK)
61.728
1984 MITSUBISHI
12.065 LDT
-
USD 313/LDT
BANGLADESH
HONG WAN
(BC)
40.765
1976 SANOYAS
8.531 LDT
-
USD 265/LDT
BANGLADESH
SHIRAOI MARU
(CHIP)
40.007
1989 OSHIMA
6.753 LDT
-
USD 227/LDT
CHINA
OCEAN LIGHT
(BC)
42.007
1977 KURUSHIMA
7.848 LDT
-
USD 277/LDT
BANGLADESH
LIBERTY STAR
(BC)
26.684
1977 TSUNEISHI
6.671 LDT
-
USD 277/LDT
BANGLADESH
DORIAN STAR
(BC)
21.480
1978 SANOYAS
6.541 LDT
-
USD 277/LDT
BANGLADESH
YM STAR
(CONT)
31.251
1980 CHINA
13.798 LDT
-
USD 235/LDT
CHINA
YM COMFORT
(CONT)
30.637
1982 CHINA
14.400 LDT
-
USD 235/LDT
CHINA
YM ENERGY
(CONT)
30.701
1983 CHINA
14.173 LDT
-
USD 235/LDT
CHINA
YM LONGEVITY
(CONT)
30.646
1983 CHINA
14.173 LDT
-
USD 235/LDT
CHINA
YM MOON
(CONT)
31.246
1980 CHINA
13.585 LDT
-
USD 235/LDT
CHINA
MSC CLAUDIA
(CONT)
40.800
1971 MITSUBISHI
23.035 LDT
-
USD 250/LDT
INDIA
IASON
(CONT)
43.289
1984 ONOMICHI
13.969 LDT
-
USD 230/LDT
CHINA
VERA
(BC)
38.931
1977 NKK
7.980 LDT
-
USD 278/LDT
INDIA
HOUSTON
(TWEEN)
31.507
1979 JAPAN
11.514 LDT
-
USD 270/LDT
INDIA
CMA CGM POTOMAC
(CONT)
28.955
1980 FRANCE
15.950 LDT
-
USD 280/LDT
INDIA
HONG YANG SHUN
(BC)
25.879
1977 SPAIN
10.394 LDT
-
USD 265/LDT
INDIA
PACIFIC No.1
(BC)
35.974
1975 JAPAN
8.400 LDT
-
USD 262/LDT
BANGLADESH
EPIC
(BC)
23.753
1981 BULGARIA
7.677 LDT
-
USD 235/LDT
CHINA
MSC ARIANE
(TWEEN)
14.390
1970 GERMANY
7.562 LDT
-
USD 260/LDT
INDIA
MSC VALERIA
(TWEEN)
14.506
1970 GERMANY
7.814 LDT
-
USD 262/LDT
INDIA
RATES
BALTIC INDEX
EXCHANGE RATE
BUNKER PRICES
BDI
803
- 160
EURO/USD
1.3652
BUNKERS
ROTTERDAM
SPORE
FUJAIRAH
BCI
1454
+ 583
YEN/USD
90.4550
IFO 380
222
257.5
246.5
BPI
450
- 54
BRENT
IFO 180
254
274
267.5
BSI
486
- 62
42.4
MDO
453.5
459
-
S & P
A STEADY FLOW OF DEALS HAVE BEEN TRANSACTED THIS WEEK WITH A REASONABLE LEVEL OF ENQUIRY FOR ALL TYPES OF BULKER.
IN THE PANAMAX SECTOR, THE M/V SWIFT FLIGHT (69,235 DWT 1983 BLT IHI) REPORTED SOLD FOR US$ 4.75M TO CHINESE INTERESTS. THE SHIP PASSED SS+DD IN SEPTEMBER 2008. THE INDIAN CONTROLLED M/V RANI PADMINI (76,384 DWT 1981 BLT COCHIN) SOLD TO UNDISCLOSED BUYERS FOR US$ 4M ON AN ‘AS IS’ BASIS.
GREAT EASTERN’S M/V JAG RANI (41,545 DWT 1984 BLT MITSUI) HAS ACHIEVED US$ 4.25M FROM CHINESE BUYERS WITH SS/DD DUE MARCH 2009.
UNDISCLOSED BUYERS HAVE AGREED TO PAY US$ 2.8M FOR THE SPANISH-BUILT M/V NIKOLAOS P (34,750 DWT 1984 BLT).
PACIFIC BASIN IS DISPOSING OF FURTHER TONNAGE, THE LOG/BULKCARRIER M/V CAPTAIN CORELLI (28,378 DWT 2001 BLT IMABARI) FOR US$ 19M AND THE OPEN HATCH TYPE/BOX HOLD TYPE M/V PRINCE RUPERT (28,685 DWT 2000 BLT IMABARI) AT US$ 18M. BOTH HAVE BEEN PURCHASED BY INDIAN BASED BUYERS.
TWO SEASTAR-MANAGED LAKERS WITH IMMINENT SURVEY DATES HAVE BEEN SOLD; M/V WOODY (29,192 DWT 1984 BLT HAKODATE) WAS CONCLUDED TO GREEK BUYERS AT US$ 2.8M WHILE M/V MILO (27,223 DWT 1984 BLT HITACHI) WENT FOR US$ 2.7M.
THE SEMI-OPEN TYPE M/V SWIFTSURE (32,770 DWT 1980 BLT KANDA) HAS OBTAINED US$ 2.5M FROM CHINESE BUYERS.
FINALLY, TWO OVER AGED HANDIES HAVE BEEN SOLD TO BUYERS IN SYRIA; THE M/V ANGELIA P (22,549 DWT 1979 BLT IHI) WAS SOLD FOR US$ 1.5M WITH SPECIAL SURVEY DUE; M/V ARETOUSA (24,715 DWT 1979 BLT NIPPON) OBTAINED US$ 1.6M.
NEWBUILDING
THERE ARE ONLY SO MANY WAYS THAT YOU CAN SAY THE MARKET IS QUIET AND WE HAVE USED PRETTY MUCH ALL OF THEM IN RECENT WEEKS SO PLEASE FORGIVE US FOR BEING REPETITIVE. THE MARKET IS QUIET! THERE IS BASICALLY NO ACTIVITY FOR ANY KIND OF CONVENTIONAL SHIP AND THE YARDS ARE RELUCTANT TO QUOTE OR INDICATE REVISED PRICE IDEAS AT A TIME WHEN THERE IS SO LITTLE DEMAND. ANY ATTEMPT TO GENERATE ACTIVITY BY REDUCING PRICES LOOKS DOOMED IN THE SHORT TERM AS THE MARKET IS SO CONVINCED OF THE DEFLATIONARY PRESSURE ON NEWBUILDING PRICES THAT PRETTY MUCH ANY PROPOSAL IS LIKELY TO BE SHUNNED BY BUYERS EXPECTING TO BE ABLE TO BUY CHEAPER TOMORROW. AS A RESULT, A STAND-OFF PREVAILS IN THE NEWBUILDING MARKET WITH A SUBSTANTIAL BID / OFFER SPREAD SUPPRESSING ACTIVITY ACROSS THE BOARD.
THE BIG QUESTION FOR THE COMING YEAR IS HOW PRICING WILL DEVELOP. WITH THE DIFFERENTIAL TO 2ND HAND PRICES, IT SEEMS INEVITABLE THAT NEWBUILDING PRICES WILL CONTINUE TO WEAKEN BUT IT REMAINS TO BE SEEN HOW SOON IT WILL HAPPEN AND HOW MUCH PRICES WILL FALL. ALTHOUGH MANY OF THE ESTABLISHED YARDS MAY FEEL COMFORTABLE THAT THEY CAN CONTINUE TO IGNORE THE MARKET IN THE SHORT TERM, UNFORTUNATELY FOR THEM, THEY ARE UNLIKELY TO BE THE ONES SETTING PRICES IN THE COMING MONTHS. THE MARKET IS MORE LIKELY TO BE DRIVEN BY THE MORE EXPOSED YARDS AS THEY SEEK TO GENERATE BUSINESS TO COVER PROMPT BERTH POSITIONS, REPLACE FAILED DEALS AND, POSSIBLY MOST IMPORTANTLY, GENERATE CASH FLOW. WITH THE FAMINE IN NEWBUILDING NOW HAVING LASTED SEVERAL MONTHS AND THE PRESSURE BEGINNING TO BUILD ON THE YARDS, WE WOULD NOT BE SURPRISED IF THE NEW YEAR IS RATHER MORE INTERESTING THAN THE LAST FEW MONTHS OF 2008 HAVE BEEN!
(ALL DETAILS BELIEVE CORRECT BUT WOG)
As adapted from CLARKSON HELLAS
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