S & P 

The previously reported sold at US$ 34m Capesize M/V PACIFIC FORTUNE (171,995 dwt 2004 blt Hyundai) is now rumored to have finally achieved US$ 31.5m to clients of Messrs Swiss Marine. Vessel has very recently passed her dd!

In Panamax sector, the Japanese controlled Panamax bulker M/V MAR REINA (71,969 dwt 1998 blt Sasebo H.I.) is reported to have been sold to undisclosed buyers (rumors suggest Greeks are behind this purchase) for US$ 15.6m.

The Handymax M/V STAR SEA BULKER (42,717 dwt 1997 blt IHI) after seeking a buyer for a long period understand she is finally sold to Greek buyers for US$ 11.5m which is substantially less than what was initially expected to achieve.

Handysize M/V AMBER VITA (29,063 dwt 1995 blt 2 Mai) is reported sold to Romanian buyers at the very low price of US$ 5.7m.

The Tanker S+P market remains fairly quiet; Neda Shipping’s VLCC AROSA (291,381 dwt 1993 blt Hitachi Zosen), the world’s first double hull VLCC, reported sold to Nathalin for US$ 23.5m.

On the product tanker side we understand c/o Sonomar have acquired the M/T ICE BLIZZARD (63,589 dwt 2008 blt STX) for the firm price of US$ 36.25m; its worth noting that this Vessel was on subjects for an ENAP tender which we understand vessel was successful in winning.

NEWBUILDING  

As we move further into December and the festive period, activity in the Newbuilding market continues to gradually wind down, as evidenced by the lower levels of new enquiry now being witnessed. The week has however seen some new business being concluded, as certain buyers have looked to tie up their various negotiations before the end of the year.

Whilst the second half of the year has certainly seen a slight decline in the number of orders being placed at the Korean yards, it can in no way detract from what has for the most been a very successful 2011 for the major yards in Korea. The ¡°Big Three¡± yards in particular have led this ordering drive throughout the year, winning orders across the Container, Offshore and LNG sectors. A continued demand across these sectors would no doubt be well received by the yards in 2012 however with the turmoil within the European financial markets continuing to look like it will restrict owners access to financing, it will likely be some time before the forward picture for 2012 can be established.

It is well known that the yards in China have faced a far more challenging year, with the beginning of the year in particular being especially quiet. Fortunately for the yards, activity has picked up a little during the second half of the year, at least amongst the major State and Private yards, with some ordering again beginning to take place in the Dry Bulk sector. This being said however, there still remains a large amount of 2013 capacity available amongst the majority of the yards and how they attempt to fill this will remain an interesting story going forward into 2012, especially given the challenges that potential owners will have face, as alluded to above.

In terms of reported business; In Tankers, news broke this week of a large Suezmax order that was placed at Rongsheng Heavy Industries. A press release from the yard indicated that they had been contracted to build 10 option 10 x 157,000dwt Suezmax Tankers for a group called Global Union Shipping Limited. Whilst pricing was not disclosed for this order, deliveries are scheduled within 2H 2013 and 2014. Meanwhile, Knutsen NYK Offshore Tankers are reported to have order 1 x 112,000dwt Shuttle Tankers at Hyundai Heavy industries. Again whilst no price has been  disclosed, delivery is provisionally scheduled in 1Q 2014.

In Dry, Shanghai Waigaoqiao are reported to have won an order for a pair of Kamsarmax Bulk Carriers from interests associated to Rizaho Steel. We understand that this deal was actually signed last month and is only now coming to light. The deal is understood to include options for a further two vessels and pricing is believed to lie in the region of USD 30.5 Mill per vessel, with deliveries scheduled in 1H 2013.