Sale and Purchase Market Report




Southport Atlantic reported the Toisa fleet of “UNITED KALAVRYTA”(159,156 dwt, Built Hyundai 2005) at US$ 17.75 million; the buyer is now reported to be AvinOil; this follows Avin’s earlier purchase of the Aframaxes “UNITED JOURNEY” (112,723 dwt, Built SPP 2010, MAN-B&W) and US$ 20 million for “UNITED SEAS”(110.295 dwt, Built Mitsui 2008, MAN-B&W). This week UNITED FORTITUDE”(112,719 dwtm Built New Times 2010, MAN-B&W) has been sold  for US$ 22 million to unspecified Greek interests.

For the third time in recent weeks Scorpio is tapping into Chinese financing sources with the sale of a bloc of MRs for an undisclosed cash price against 8 years bareboat back with built-in repurchase elements; the vessels are:

m.t. “STI BATTERY” – 49,990 dwt, Built Hyundai Mipo 2014

m.t. “STI BRONX” – 49,990 dwt, Built SPP 2015

m.t. “STI MANHATTAN” – 49,990 dwt, Built SPP 2015

m.t. “STI MILWAUKEE” – 49,990 dwt, Built Hyundai Mipo 2014

m.t. “STI SENECA” – 49,990 dwt, Built Hyundai Mipo 2015

m.t. “STI TRIBECA” – 49,990 dwt, Built SPP 2015

MRs – in conventional trading sales of MRs, “IVER EXACT”(46,858 dwt, Built Hyundai Mipo 2007, coated, IMO II, 16 tanks/pumps, MAN-B&W) has been sold to Spring Marine, Greece who are paying US$ 14 million. IMS is paying US$ 9.9 million for Transpetrol’s “ENDEAVOUR”(46,101 dwt, Built STX 2004, epoxy, IMO III, MAN-B&W).

In a bank-directed sale,  MR1 “CPO LARISA HESTIA”(37,229 dwt, Built Hyundai Mipo 2001, IMO III, coated, 12 tanks/pumps, B+W)  has been sold to Waruna, Indonesia for US$ 6 million. The same buyers are taking “AIKATERINI” (35,769 dwt, Built Daedong 2001, IMO III, 12 tanks/pumps, coated, B&W), paying US$ 6.2 million.

Singapore buyers are paying US$ 8.05 million for Lomar’s “LONDON TRADER”(13,097 dwt, Built Sekwang 2007, IMO II, coated, 12 tanks/pumps, MAN-B&W).


KOTC has sold LPG carrier “GAS AL MUTLAA” (78,475 cbm, Built Mitsubishi 1993, Mitsubishi) for US$ 8 million with dd due this month.


The BDI rebounded with a gain of 235 points to 1391 (1156), boosted once again by a strong showing in the Cape sector – TCE at the week’s end stood at US$ 17,566 from US$ 13,180 last week.

Chinese buyers have agreed to purchase Kamsarmax “ENERGY G” (79,387 dwt, Built Jiangsu Eastern 2010, MAN-B&W) for US$ 15.5 million.

Dutch owners Orient Shipping are paying US$ 12 million for the handysize “KING WHEAT” (33,387 DWT, Built Shin Kochi 2009, cranes 4 x 30 tons, Mitsubishi). “PRINCESS SIRENA” (28,378 dwt, Built I-S Shipyard 2011, cranes 4 x 30 tons, MAN-B&W) has found buyers at US$ 10 million.

Supramax“OCEAN PREFECT” (53,035 dwt, Built Oshima 2003, cranes 4 x 30 tosn, MAN-B&W – ss extended until 7/2018) is reported sold at a price in the low US$ 9 millions.

Vintage handymax “PARASKEVI”(45,590 dwt, Built CSBC Keelung 1996, cranes 4 x 30 tons, Sulzer – dd due 5/2019) has been committed for US$ 4.8 million.


Buyers are paying US$ 24.5 million for “NYK TERRA” (6,661 TEU, 80,282 dwt, Built Hyundai H.I.2008, 40m beam, MAN-B&W).

Borealis is acquiring “CIRCULAR QUAY” (3,534 TEU, 42,034 dwt, Built Shanghai Shipyard 2009, gearless, MAN-B&W) for US$ 11.3 million.

Lomar is selling “SUFFOLK TRADER” (2,496 TEU, 35,611 dwt, Built in Germany at SSW Faehr und Spezialschiffbau in 2008, cranes 3 x 45 tons, Sulzer) to Orient Express Lines for US$ 8.3 million; Lomar paid US$ 3.75 million for her in 2016.


Product carriers – Marubeni has placed a domestic order at Onomichi for two 79,250 dwt product carriers for delivery 3Q 2020. Oceangold Tankers have declared options for two MRs at STX for delivery within 2019 bringing the total order to six vessels.

Newcastlemax  – in a previously unreported order Yangzijiang won a contract for two of 208,000 dwt from US buyers at the end of 2017 for delivery in 2020, price US$ 48.5 million per vessel.

Containers – HMM has signed LOIs for a substantial order of large container vessels divided between three Korean shipyards, the cost of the total package amounting to US$ 2.5 billion. The order for the 23,000 TEU size is divided between Daewoo (7 vessels) and Samsung (5 vessels), Hyundai will build the remaining 8 vessels of 14,000 TEU.

In another domestic order in Korea, Hyundai Mipo will built two 1,800 TEU vessels for Pan Ocean, price US$ 25 million each, delivery late 2019/early 2020.

LNG – Shell, in a joint venture with Keppel under the name Fuel LNG has contracted one 7,500 cbm LNG bunkering vessel that Keppel will build for delivery in 2020price US$ 50 million.


Recent sales include:



LDT: DWT: Built: Price:
CONCORD M 41,508 301,345 1996 US$ 448
AMITY STAR 39,130 291,381 1993 US$ 415


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Source: Southport Maritime, Inc


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