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Market Analysis
From: Lion ShipbrokersDate : 2012-2-27 9:31:32

LION SHIPBROKERS WEEKLY REPORT-WEEK 8

MARKET NEWS/ RUMOURS

On the dry-bulk front, the market remains stable at low levels. Japanese owned Tess 76 panamax MINERAL STAR (76K BLT 2005/TSUNEISHI/JAPAN) is reported committed or under close negotiations to Greek buyers at levels $21.5-21.6 mill, while other sources suggest that her Owners were not happy with offers received and have withdrawn her from the market (offers were invited by 21st  Feb this week- rumoured highest offer received was region $20.8-21 mill). Nineties panamax EASTERN QUEEN (70K BLT 1994 DAEWOO/S.KOREA) reported sold last month region $10.7-10.9 mill to Chinese buyers, has been re-circulated in the market this week, as apparently her prospective buyers never signed moa. Vintage Handymax LABRO (41K BLT 1984/JAPAN, CR 4X25T, LDT 7623 MT) is sold for $3.8 mill, which is approximately her scrap value basis $500 per lt (her last position was unfixed in Chittagong, Bangladesh). Clients  of  Clipper  are  reported  to  have  committed  en-bloc  handy  sisters  CLIPPER MORNING  &  CLIPPER  MERCURY  (27K  BLT  2002/2004  NEW  CENTURY/CHINA  CR  4X30T)  to undisclosed buyers for $24 mill. It should be noted that Clipper Mercury is on charter at $10,500 p/d net for 8+3 months that commenced 2nd September 2011. Japanese owners are proving again this week that they are the most realistic sellers in the market, disposing two 1997 blt handy units; Greek buyers are said to have purchased KEN ANN MARU (32K BLT 1997/JAPAN CR 4X30T) for $9.5 mill and smaller DIAMOND GLORY (28K BLT 1997/JAPAN CR 4X30T) for $9.1 mill. Prices achieved indicate further softening of handy tonnage values. Meantime, we picked up that buyers of semi-boxed handy ALADDIN  RAINBOW  (32K  BLT  1999  KANDA/JAPAN  CR  4X30T)  are  rumoured  to  be  clients  of Oldendorff of Germany while younger unit LUPINUS (31.7K BLT 2005 SIKI/JAPAN CR 4X30T) remains available for sale as she was erroneously reported fixed last week at $16.9 mill to Greeks.

On the container/mpp front, at an Admiralty Court Sales auction (on 16th February) in Gibraltar, two mid 90’s geared feeders found buyers. ASTOR & CONDOR I (18K BLT 1995/POLAND, 1129 TEUS, CR 2X43T, LDT  6782) have commanded a price $4.2 mill each basis prompt delivery as-is/where-is Gibraltar. Meanwhile another mid 90’s German built geared feeder ANDREA (14K BLT 1995/GERMANY 1104 TEUS CR 2X45T) was snapped by clients of Meratus of Indonesia for $4.15 mill.
In the Tanker segment, double hull suezmax MONTE GRANADA (150K BLT 2004 UNIVERSAL/JAPAN) is committed to clients of Tanker Pacific of Singapore for $33 mill while we understand stainless steel unit OAK GALAXY (20K BLT 2005/JAPAN CENTRE-LINE BULKHEAD) has been under close negotiations at mid-high $19 mill levels and may soon be gone to clients of Wilmar of Singapore. Two LPG tankers changed hands this week; Vintage unit MAHARSHI LABHATREYA (20K 1982/NORWAY CBM 24047) was sold to clients of Mount Risho Investments for $12 mill for storage project in Africa. Smaller vintage unit ONCOR (3.6K BLT 1987/SPAIN CBM 3216) was purchased by clients of Transgas of Peru for $2.2 mill.

In the Demolition sector, the current oversupply of tonnage has caused a  slowdown in activity; however, our short term forecast is that demo-market will pick up again. The fluctuation of demo rates is causing price renegotiations, that why we would like to remind our Ship-owners to be careful & pay great attention on track record and background, when choosing Cash Buyer for their ship’s last voyage. This week we notice 1 VLCC tanker plus 1 VLOC & 1 panamax bulkers heading for the beach. Subcontinent feeling is negative with prices ranging at $465 for bulkers, at $490 for tankers & at $490 for Tweendeckers/Containers. In other major demo-markets this week, China is stable paying $420, while Turkey is improved paying $335 per lt.  

SALES

BULKERS

M/V "MINERAL STAR" - 76,286 dwt, blt 2005 Tsuneishi/Japan, NKK, 7 HO/7 HA, B+W 6S60MC
Sold to GREEK BUYERS for $21.6 mill

M/V "LABRO" -41,093 dwt, blt 1984 Oshima/Japan, RINA ss due 03/15 dd due 03/2013, 5 HO/5 HA, Sulzer 6RTA58, Cr
4X25T, LDT 7,623 MT
Sold to Undisclosed Buyers for $3.8 mill

M/V "KEN ANN MARU" - 32,115 dwt, blt 1997 Onomichi/Japan, NKK ss due 07/2012 dd due 07/2012, 5 HO/5 HA, Mitsubishi 6UEC52LA, Cr 4X30T
Sold to GREEK BUYERS for $9.5 mill

M/V "DIAMOND GLORY" - 28,515 dwt, blt 1997 Tsuneishi/Japan, NKK,   5 HO/5 HA, B+W 5S50MC, Cr 4X30T Sold to GREEK BUYERS for $9.1 mill - was again reported sold last moth for usd 10.5 mill

M/V "CLIPPER MORNING" - 27,141 dwt, blt 2002 New Century/China, ABS ss/dd due 06/2012, 5 HO/5 HA, B+W
7S42MC, Cr 4X30T
+
M/V "CLIPPER MERCURY" - 27,001 dwt, blt 2004 New Century/China, ABS ss due 2014, 5 HO/5 HA, B+W 7S42MC, Cr
4X30T
Sold en bloc to Undisclosed Buyers for $24 mill

M/V "KOPALNIA HALEMBA" - 11,715 dwt, blt 1990 Warskiego Stocznia/Poland, PR ss due 10/2015, 5 HO/5 HA, B+W
6L50MCE, Cr 4X16T, Cr 1X12.5T, LDT 4,894
Sold to Undisclosed Buyers for $3.25 mill

CONT/TWEEN

M/V "ASTOR" - 18,395 dwt, blt 1995 Gdynia/Poland, GL is/dd due 05/2013, 1 DKS - 1129 TEU's - 4 HO/7 HA, M/E: B+W
7S50MC, Cr 2X43T, LDT 6,782 MT
+
M/V "CONDOR I" - 18,395 dwt, blt 1995 Gdynia/Poland, GL, is/dd due 06/2013, 1 DKS - 1129 TEU's - 4 HO/7 HA, M/E: B+W 7S50MC, Cr 2X43T, LDT 6,782 MT
Sold to Undisclosed Buyers for $4.2 mill each at auction in Gibraltar as is- where is

M/V "ANDREA" - 14,454 dwt, blt 1995 Volkswerft Stralsund/Germany, GL,  1 DKS - 1104 TEU's - 3 HO/7 HA, M/E: B+W
7S50MC, Cr 2X45T
Sold to clients of Meratus of Indonesia for $4.15 mill

GAS

M/T "MAHARSHI LABHATREYA" (LPG) - 20,561 dwt, blt 1982 Nye Fredriksstad/Norway, DNV, 3 tanks CBM: 24047, M/E: Sulzer 5RLB76
Sold to clients of MOUNT RISHO INVESTMENTS for $12 mill for storage project in Africa

M/T "ONCOR" (LPG) - 3,659 dwt, blt 1987 Nervion-Bilbao/Spain, BV ss due Oct 2012 ice class iii,  M/E: Alpha 12V28/32, shaft generator, 3 tanks-capacity 3216 cbm, 5 centrifugal pumps
Sold to clients of Transgas of Peru for $2.2 mill

TANKERS

M/T "MONTE GRANADA" (Suezmax) -150,581 dwt, blt 2004 Universal/Japan, LR SS due Oct 2014 / DD due Oct 2012, 14
CARGO TANKS CAPACITY (98%): 160640M3 + SLOP 6060M3- M/E: Sulzer 6RTA72, double hull, Coiled SBT/IGS/COW Sold to clients of Tanker Pacific of Singapore for $33-33.7 mill

M/T "OAK GALAXY" (Chem/Prod tanker)-19,997 dwt, blt 2005 Shin Kurushima/Japan, NKK, 22 Stainless Steel Tanks capacity 20,862 cu.m, M/E: Mitsubishi 7UEC45LA, bow thruster, S/Steel 316L cargo lines, Centre Line Bulkhead, double hull Sold to clients of Wilmar International of Singapore for $19 mill

DEMOLITION

Tankers
M/T "ANTIPAROS" - LDT 34724TS - 269,065 dwt, 1992 Kawasaki/Japan, NKK ss/dd due 11/2012, 11 TNKS - M/E: B+W
7S80MC
Demo to PAKISTAN for $501 per LDT

Bulkers
M/V "DIAMOND WARRIOR" (VLOC) - LDT 25,516 - 197,091 dwt, blt 1984 Hitachi Zosen/Japan, NKK, 6 HO/6 HA, B+W
7L80MCE
Demo to INDIA for $482 per LDT

M/V "OCEAN MERCY" (OBO)-LDT 24,229 - 98,734 dwt, blt 1987 Komuny Paryskiej/Poland, DNV, 9 HO/9 HA, Sulzer
6RLA90
Demo to BANGLADESH for $485 per LDT

M/V "HERON"- LDT 10797- 37,692 dwt, blt 1984 Sasebo Sasebo/Japan, NKK ss due 11/2014 dd due 10/2012, 5 HO/5 HA, Sulzer 6RTA58, Cr 4X25T
Demo to INDIA for $495 per LDT

M/V "PRINCESSA V"-LDT 9,042- 38,500 dwt, blt 1986 Alexandria/Egypt, RS, 5 HO/5 HA, B+W 6L67GFCA, Cr 5X12.5T Demo to INDIA for $490 per LDT including full set of spares

M/V "BESTKING"-LDT 7,932- 34,698 dwt, blt 1983 Aesa-Seville/Spain, PD ss due 09/2012, 5 HO/5 HA, B+W 6L67GFCA, Cr 4X16T
Demo to INDIA or BANGLADESH for $475 per LDT

Containers
M/V "QATARI IBN AL FUJA'A" -LDT 12,861-35,615 dwt, blt 1983 Hyundai/S.Korea, LR, 2 DKS - 2199 TEU's - 6 HO/31
HA, M/E: B+W 6L80GFCA,
Demo AS IS KHOR FAKKAN for $502 per LDT with sufficient fuel for last voyage