Shipbroker Galbraith’s noted that in spite of abundant buyer interest, shipowners “appear to be unwilling to commit themselves on vessels that will inevitably be delivered during a period when historically markets are quiet”.
“As a result, few sales are being reported and serious sellers are having to face up to a drop in values,” Galbraith’s said.
Ernst Komrowski Reederei’s 2000-built, 74,717 dwt Merian was one of the vessels that took a hit, selling for a price of $17m-$17.2m, according to broker reports.
The price paid is well below the vessel’s current valuation of $18.1m by VesselsValue.com, and represents an even steeper fall compared to the September sale of Merian’s 2001-built sistership Maddalena D’Amato for $18.3m.
K Line’s 1997-built, 68,962 dwt Pleiades went at a similar discount, fetching $13.7m-$14m according to broker reports, while VesselsValue.com assesses the ship at $14.7m, a value similar to the $14.8m paid for 1996-built, 70,165 dwt Pequot in September.
The good news for dry bulk owners was to be found in the resale segment. ICAP Shipping reported the sale of another 207,000 dwt dry bulk vessel currently under construction at Universal Shipbuilding, due for delivery in 2011, for $57m. This appears to mark a slight improvement over the average $48m resale price reported by Clarksons for 176,000 dwt-180,000 dwt capesizes on a per dwt basis.
It was also reported that the resale of an 82,000 dwt bulker under construction at Hyundai Mipo Dockyard due for delivery in April 2012 had achieved a price of $35m.