Shipping Industry Buoyant by Ship Sales and Deals


  • Ship owners are active both in the newbuilding and the second hand market for ships over the past week.
  • According to its latest weekly report, shipbroker Banchero Costa said several sales took place in the dry segment during the week.
  • Although several countries such as Singapore, Hong Kong, etc. imposed stricter rules for crew change and this may affect future transactions.

A recently published news in the Hellenic Shipping brings out the positive trend in the shipping industry with ship owners make revenue during this pandemic.

Deals and deeds

Wise Young

S Korean controlled Kamsarmax bulker “Wise Young” 82,000 dwt built in 2011 at Daewoo with SS/DD due in November (out-of-sync) 2020 will end up in Greek hands for $13.5 mln.

Xenofon XL & Fulham

Supramax bulkers of 57,000 dwt “Xenofon XL” and “Fulham” both built in 2010 at COSCO Zhoushan and COSCO Dalian respectively were sold for $7.5 mln each.

Noble Halo

Similar levels were achieved by two years younger units built in Japan, Supramax “Noble Halo” 56,000 dwt built in 2008 at Mitsui – reportedly sold to undisclosed buyers for $7.9 mln.

Zambesi & Ikan Jenahar

In the Handysize segment, “Zambesi” 34,200 dwt built in 2013 at Zhejiang Yangfan, China was sold at $8.75 mln (BWTS installed) whilst “Ikan Jenahar” 32,000 dwt built in 2010 at Saiki was also sold but no price emerged yet.

Demolition market picking

It is worth noticing that the demolition market steadily picked up and couple of bulk carriers have now managed to achieve levels in excess of $350 per LDT.

In the tanker segment, despite a persistent soft market and summertime, there were still various negotiations around with buyers looking for bargain deals.

Bag Meur

A 20 years old VLCC ‘Bag Meur’ 306,000 dwt built at Hyundai with SS/DD due in August was sold to undisclosed for $23.5 mln.


Aframax ‘Umlma’ 105,000 dwt built in 2006 at Hyundai reportedly achieved $14.9 mln, a new (lower) benchmark for this size/age.

Maersk Murotsu

Finally MR2 ‘Maersk Murotsu’ 50,000 dwt built in 2010 by Onomichi was purchased by European buyers at $16.6 mil, basis 2nd Special Survey freshly passed.

Allied Shipbroking views

In a separate note, Allied Shipbroking said that “on the dry bulk side, after the tremendous rally in total activity noted during the past week or so, things slowed down considerably over the last few days. The week closed off with but a handful of units changing hands in the meantime. At this point, we saw volume being concentrated in the medium and smaller size segments, given the hefty negative corrections in freight returns noted in the larger sizes.”

“Hopefully, even if we are in the midst of a sort of correction from the side of earnings, buying appetite will should be sustained at relatively good levels for the near term at least. On the tankers side, little has changed in terms of volume of transactions being noted during the past week or so. It seems that we have already entered a sluggish period in terms of buying appetite. Moreover to this, given the considerable pressure being noted in terms of earnings as of late, this mediocre appetite may well be sustained in the near term”, Allied said.

More inputs by Allied Shipbroking

  • A fairly active week for the whole newbuilding market, given the fair number of new orders being concluded across most of the main sectors.
  • In the dry bulk market, we witnessed a strong push in the bigger size segments, despite somehow the recent steep negative corrections noted from the side of freight earnings.
  • On the tanker side, we are currently seeing a keen interest towards different size segments.

However, if we assume a continuous improving sentiment, the fact that greater opportunities can be had now in terms of pricing and early slots, potential buyers could well be enticed for a second and more amplified round of newbuilding ordering over the course of the second part of the year.

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Source: Hellenic Shipping


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