Used Boat Market Heats Up
QThe used boat market has seen a flurry of new deals over the past week. In its latest weekly report, shipbroker Banchero Costa said that “in the bulk sector, the 77,000 dwt 2005 Panamax vessel NAVIOS HELIOS built by Namura was reportedly sold to a Hong Kong company for $8.25 million. The 76,000 dwt 2011 TASIK SAKURA built by Oshima was reportedly sold to Omicron for $15 million. In the Ultramax segment, IMABARI QUEEN 60,000 dwt 2016 Sanoya built reportedly sold to British Bulkers for $23.5 million. In the Supramax segment, Chinese interests were behind the purchase of the STONEWELL PIONEER 56,000 dwt 2014 Taizhou built for $14.7 million. In the Handysize segment, a 2011-built Minaminippon TBC PRIME 38,000 dwt was reportedly sold to Vietnamese interests for $14 million. Apart The 38,000 dwt Imabari TBC PASSION built in 2011 was also reportedly sold to Vietnamese interests for $14.4 million. In the tanker sector, the 308,000 dwt 2016 Dalian-built VLCC LANDBRIDGE FORTUNE was reportedly sold en-block with sister ship LANDBRIDGE PROSPERITY (2016) for $171.60 million. Additionally, sister LANDBRIDGE HORIZON (2019) it reportedly sold for $103 million. All three vessels are equipped with scrubbers and have reportedly been sold to Trafigura. In the Suezmax segment, the 157,000 dwt 2019 Hyundai Samho-built ECO BEVERLY HILLS was reportedly sold enbloc with its sister ECO BEL AIR (2019) to Performance Shipping for $76.5 million each. In the Aframax segment, Pakistan National Shipping was behind the purchase of the NAFSIKA 112,000 dwt 2022 Sumitomo Heavy Marine built and LORAX 110,000 dwt Sumitomo 2022 built at a cost of $75 million per unit. In the LR1 segment, the 73,000 dwt 2005 Hudong-Zhonghua-built PGC COMPANION reportedly sold for $10.3 million to an undisclosed interest.”
Source: Banchero Costa
In a separate note, shipbroker Xclusiv said that “buying momentum continued in the dry sector this week, from Capesize to Handysize units. In the Capesize sector, Dalian “Hebei No. 1” – 182K/2009 sold for USD 25 mills. In the Panamax sector, “Nara I” – 77K/2007 Jiangnan changed hands for USD 8.5 mills, while in the Ultramax sector Greek buyers purchased the Japanese made Scrubber “Imabari Queen” – Sanoya 60K/2016 for USD 23.5 mills. “Athena” – 62K/2011 Oshima sold for USD 17.75 mills, TC base set at USD 14,750/day until end of 2025. Chinese buyer active in Supramax segment, acquired Electronic M/E “Stonewell Pioneer” – 57K/2014 Taizhou Sanfu for USD 14.7 mills. Meanwhile, “Aquavita Bay” – 56K/2014 JMU with electronic M/E is selling for USD 20.25 mills, highlighting the premium to Japanese Tier II tonnage. “Forever SW” made in the Philippines – 58K/2010 Tsuneishi Cebu sells for USD 15.2 factory. The major en-bloc deal saw Brave Maritime acquire three Japanese-built Handy bulk carriers – “African Heron”, “African Merlin” and “African Goshawk” – 34K/2016 Namura at a factory price of USD 17.5 each, marking one of the most notable Handysize moves of the week. Elsewhere, “Dogan” – SPP 39K/2013 changed hands for USD 14.8 mill, while the older “St Theresa” – 33K/2006 Kanda sold for USD 7.2 mill. Finally, Ice Class 1C Handy “Irma” – 35K/2000 Mitsui sold at a high price of USD 4 factory”.
Likewise, “the tanker market remained very active this week, driven by high interest in modern tonnage in the VLCC and Aframax/LR2 segments. Trafigura acquired modern VLCC “Landbridge Horizon” – 308K/2019 Dalian for USD 103 mills. Performance Shipping expanded its crude oil sector with the purchase of Suezmax brothers “Eco Bel Air” and “Eco” Beverly Hills” – Hyundai Samho 157K/2019 priced at USD 75,438 mills each. In the same size range, a vintage “Konya” – 164K/2005 HHI found a new owner for USD 28.4 mills, indicating strong value for older, well-maintained Korean-made units. Chinese buyers were also active, acquiring “Oceanus” – 150K/2008 Universal for USD 38 factory. On the Aframax side, Pakistan National Shipping Corporation returned to the market by purchasing two new Japanese-built vessels, “Nafsika” – 112K/2022 Sumitomo and “Lorax” – 110K/2022 Sumitomo, at around USD 75 factory price each. A trio of Korean-made sisters, “Kmarin Renown”, “Kmarin Respect”, and “Kmarin Reliance” – 110K/2016 STX, sold to an undisclosed buyer for a factory price of USD 46 each. Older Aframax tonnage continued to see movement, with Sumitomo’s “Hydra” – 106K/2004 changing hands for a factory price of USD 20.75, while the Ice Class Aframax “Minerva Lisa” and “Minerva Iris” – 104K/2004 Samsung reportedly committed to a low USD 20 rate. “Product tanker activity is also important, as the MR2 “Stavanger Poseidon”- 49K/2020 Hyundai Vietnam was sold for USD 44.15 mills to Pakistan National Shipping, while the “San Sebastian” – 37K/2007 HMD was sold for USD 13.5 mills,” Xclusiv concluded.
Source: Xklusiv
Meanwhile, in the newbuild market, Banchero Costa said that “in the tanker sector, Greek company Dynacom ordered 4 x 306,000 dwt VLCCs to Chinese yard Hengli HI. The price for each vessel is estimated between $116-$118 million, and deliveries will take place from mid-2026 to 2027. Turkey’s Densay Shipping ordered 2 x 50,000 dwt product carriers to Chinese builder Wuhu. The Duo MR2 will be delivered in mid and late 2028. In the Chemicals segment, Chinese yard Jiangsu New Jiangzhou SB secured an order for 3 x 33,000 dwt stainless steel chemical carriers from DM Shipping in Korea. Each ship will have dual-fuel methanol propulsion and be priced at $56 million. Deliveries will start at the end of 2028 and end in Q4 2029. In the Container sector, China’s Jiangsu Ocean Shipping placed an order for 2 x 1,900 TEU carriers to China’s Huangpu Wenchong yard. “Both are scheduled for delivery in Q4 2029,” concluded the shipbroker.
Nikos Roussanoglou, Worldwide Hellenic Shipping News
