S & P 

Following a steady level of sales activity for 90's built Panamax bulkers in recent weeks, this week the majority of s+p activity has been dominated by sales in the Supramax sector.

The Dai-ichi controlled Tess 58 M/V OPAL HALO (58,786 dwt 2008 blt Tsuneishi Zosen) has been committed to Bangladesh based buyers (Swiss Bulk) for a price in the region of US$ 27.5m.

On another sale we understand that M/V SANKO KING (56,678 dwt IHI blt) has been committed to clients of DST of Greece in an off-market deal at US$ 25.8m.

The last reported sale of this week in Supramax sector is that of M/V NORD MARINER (53,459 dwt 2005 blt Imabari) at US$ 24m to Greek buyers.

The geared Panamax M/V B INDONESIA (70,424 dwt 1990 blt Hyundai H.I.) has been committed to Chinese interests for US$ 7.85m while Chinese buyers have also taken the Post-Panamax beam M/V STAR FLOWER (69,006 dwt 1987 blt Namura) at US$ 6.5m; a level not far from her demolition value.

NEWBUILDING  

The newbuilding market continues to quieten down as we approach the final weeks of the year, with very few new enquiries being witnessed in the market. This is not to say that all activity has ceased however and we do continue to see activity with new business being concluded in the both Dry, Gas & Container markets.

With the year approaching its conclusion, it is perhaps unsurprising that thoughts turn more and more to 2012. Much of the activity in 2012 will be determined, or at the least heavily swayed, by the state of the global economy and the subsequent availability of financing. As things stand, there remains a great deal of uncertainty over how the more conventional markets will progress after what has undoubtedly been a challenging 2011, both from a newbuilding and chartering perspective. The more niche sectors will likely continue to play an important role in the development of new business for the yards, though with more and more yards looking to take advantage of these markets, will no doubt become an increasingly competitive market environment.

In the end, success in winning new orders across the majority will most likely be achieved by those yards whose designs offer owners the greatest level of flexibility in design, both through fuel efficiency and their economy of ship scale. With all the major yards across Korea, China and Japan all continuing their work in developing these, there will no doubt be numerous opportunities for owners as the year progresses.

In terms of reported business; In Dry, Compagnie Maritime Belge (CMB) are reported to have placed an order at Weihai Samjin for 6 option 4 x 36,000dwt handysize bulk carriers. Four of the 36,000 dwt vessels are due for delivery in 2013 while the remainder are expected a year later. Pricing has not been reported. Safe Bulkers, Inc. meanwhile have announced that they have entered into a contract to build one panamax bulker within japan. They have not for the moment disclosed the name of the yard or pricing for this vessel, only that the vessel will deliver in 1H 2014.

In Gas, Kawasaki have won an order for an 82,000dwt VLGC from Kumiai Navigation with the vessels due to deliver in 2H 2013. Pricing has not been disclosed.

In Container & Other ship types, Nam Sung Shipping are reported to have ordered a trio of 1,850 TEU container carriers at Hyundai Mipo with deliveries due in Feb/Apr and Jun 2013. These are understood to have been signed at a price of circa USD 29 Mill each. Finally, DaeSun shipbuilding are reported to have won an order from the Iraq State Company for Maritime Trading for 3 x 17,500dwt MPP carriers. These vessels are reported to have been signed at a price of USD 24.5 Mill each with deliveries in 4Q 2013 and 1Q 2014.