Dry bulk ship values firm up on increased demand, as tankers are treading on softer ground
Ship valuations specialist VesselsValue released its month report for August. This indicates the firming up of the dry bulk ship values. Capesize values have firmed. 6 capesize sales have been concluded over August. The sale of the Mustang (180,000 dwt, 2016 blt, New Times Shipping) sold for usd 32.5 mil, with the VV value on the day before sale being usd 28.5 mil.
Panamax values have firmed for modern tonnage and softened for older tonnage. 12 sales having been concluded for August. The highest impact was the resale of SS220 Hull and SS221 Hull (81,600 dwt, 2016 blt, Tsuneishi Zhoushan) for usd 22 mil each with VV valuing at usd 19.65 mil each. Older tonnage has seen a softening in value, confirmed by the sale of the Yangtze (73,500 dwt, 2001 blt, Tsuneishi) for usd 3.4 mil and VV valuing the vessel the day before sale at usd 4.26 mil.
Supramax values have firmed for older tonnage and have been stable to soft for modern tonnage. 19 sales were concluded for the month of August. The Nemtas 1 (50,100 dwt, 2001 blt, Mitsui Ichihara) was sold by Nemtas Nemrut Liman for usd 4.4 mil with VV valuing the day before sale at usd 3.88 mil. For modern tonnage, the 61,000 dwt resale from Dalian Cosco KHI sold for usd 18.3 mil with VV valuing the day before sale at usd 17.8 mil.
Modern handy values have firmed. 11 sales were concluded for August. Contributing to modern tonnage firming was the Don Mariano (37,900 dwt, 2016 blt, Avic Weihai) sold at usd 14.5 mil and VV valuing the vessel at usd 10.5 mil the day before sale.
VLCC values have softened, with older tonnage affected the most. 2 sales have been concluded for August. The sale of Kaminesan (303,900 dwt, 2003 blt, Universal) sold at usd 28.3 mil with VV valuing at usd 32.4 mil, a significant reduction.
Suezmax have softened, with older tonnage affected the most. No sales have taken place this month, softening due to falling charter rates.
Aframax and LR2s have shown a consistent softening in values throughout August. The sale of the Isis (116,100 dwt ,2007 blt, Universal) failed in July 2016 and was resold on August 10th by Global United Shipping Singapore to Atlas Maritime. The vessel sold for usd 24.7 mil.
MR values have softened throughout the month. 7 sales have been concluded for the month of August in the handy sector. Two MR2 sisters, the Pacific Marchioness (46,700 dwt, 2010 blt, Hyundai Mipo) and the Pacific Duchess (46,700 dwt, 2009 blt, Hyundai Mipo) have been sold en bloc at usd 22.3 mil and usd 20.7 mil respectively. VV valuing the day before sale for usd 22.49 mil and usd 20.97 mil respectively. The sale includes a bareboat to ENOC.
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