S & P 

It has been a relatively busy week this week, with a number of sales to report. The majority of the activity is still centred around the Japanese selling market and this looks set to continue with further tonnage coming for sale from Japan with the arrival of the new domestic fiscal year.

In the Capesize sector, the Spanish built Capesize M/V VOGESAILOR (164,118 dwt 1996 blt A.E.S.A.) has been sold by c/o Vogemann to Greek interests for around US$ 11.6m. The Vessel had been inspected by a couple of Buyers in Singapore last week, and sold basis prompt delivery. The owners had fixed and failed her a number of times previously,

An increased activity is observed in the Panamax sector with several interesting sales to report. The Tess 76 type panamax M/V MINING STAR (76,225 dwt 2005 blt Tsuneishi Zosen) has been sold to clients of Diana Shipping for region US$ 21.5m. Neda Maritime’s M/V AMALIA (75,100 dwt 2000 blt Hitachi) reported sold to other Greek interests for the very firm price of region US$ 16.4m. Other activity in the sector includes M/V ENERGY PROMETHEUS (74,083 dwt 1998 blt Imabari) which we understand has now been concluded to Chinese interests for a price at high US$ 12m.

Japanese owners c/o K-line are understood to have concluded the sale of their handymax M/V SALVIA (48,265 dwt 2000 blt Oshima) at a price a bit under US$ 14m to Greek buyers. We understand Owners were keen to get the sale concluded prior the end of the fiscal year.

In the handysize sector, Japanese controlled M/V DIAMOND GLORY (28,515 dwt 1997 blt Tsuneishi Zosen) has been sold this week for US$ 8.6m. to c/o Muhieddine Shipping (Syria). The vessel had originally been sold last month to Greek Buyers for US$ 9.2m, but the deal failed to materialise. Daiichi Chuo’s M/V OCEAN BELLE (32,130 dwt 1999 blt Saiki) understand is sold to undisclosed interests for a price close to US$ 10m.

Despite certain upgrades and positive news from analysts rating tanker stocks throughout the world the Sale and Purchase market has been a touch subdued. There are few sales to report this week.

The Chinese built M/T TORM UGLAND (73,708 dwt 2007 blt New Century) reported sold to Tanker Pacific for US$ 22.5m.  In a sale conditional upon award of employment under a tender in Chile, local buyers there have committed to buy on subjects the epoxy coated MR product carrier M/T MARCELA LADY (46,683 dwt 2004 blt 3 Maj) for US$ 21.5m. The IMO III product carrier M/T FRIENDSHIP T (40,395 dwt 1990 blt Yugoslavia) has been sold at auction to undisclosed buyers at US$ 4m.

In the Chemicals sector, the fully st/st M/T SC CHELSIA (26,664 dwt 2000 blt Fincantieri) has been sold for US$ 12.5m. The ship was marketed for sale on the open market last year but having seen insufficient offers the ship was eventually sold at auction to clients of Gabes, Tunisia.

NEWBUILDING  

Whilst the headline ordering in the gas market over the past twelve months has very much been in the LNG sector, this week we have seen a resurgence of ordering in the LPG sector with the penning of both small fully pressurised and midsize fully refrigerated vessels. Whilst the LNG market and especially the larger sizes filling the Yards big berths, the small to midsize LPG sector is showing some signs of resilience because of attractive pricing from Yards keen to fill early slots combined with relatively stable earnings. Also this week we have seen the number of container ships having been ordered so far this year being trebled to take the firm number of vessels ordered so far this year to the sum total of three Vessels! With the design houses in China spending a considerable amount of time now focusing on improving the smaller to mid-size designs not only in terms of fuel consumption, but also that of homogenous intake to nominal size, it will not be too much longer before we see others ordering in this important sector and allow the operators to enjoy the benefits of lower slot cost per TEU with improved efficiencies.

In terms of reported business; In Dry, clients of Diana Shipping have announced they have ordered a pair of Ice classed Panamax bulk carriers at Jiangnan Shipyard, China at a price of circa USD 29 Mill per vessel and due to deliver in 4Q 2013. We understand these vessels are ICE 1B ice classed. It has also been reported that the Tiawanese Owners China Steel Express Corp. have placed an order in Japan for one capesize bulk carrier at a price of USD 55.5 Mill. We understand this is a 180,000dwt unit and has been ordered at Universal shipyard.

In Wet, Scorpio Tankers are understood to have declared a further option at Hyundai Mipo for one additional 52,000dwt Product Tanker. This vessel is expected to deliver within 2013 and is the 8th vessel in the series contracted between the two parties.

In Gas, Exmar have announced they have ordered a series of 4+4 x 38,000cbm LPG carriers, whilst we understand there remain some details yet to be finalised, this order will see the firm vessels begin to deliver from Jan 2014 onwards. In addition to their order for 2 x 5,000cbm lpg carriers mentioned last week, we also understand Brave Maritime have ordered a further 2+2 x 6,500 LPG carriers again with the firm units due to deliver in 2014.

In the ferry market DSD Shipping have ordered a brace of 5,500 GT, LNG powered Ferries From the Polish Yard Remontowa for a reported USD 25 Mill per Vessel.

Finally in Containers, clients of Lomar Shipping are reported to have signed an order at Guangxhou Wenchong for 2+2+2 x 2,200 TEU container carriers. These vessels are provisionally scheduled to deliver from early 2014 onwards and are understood to have been ordered at a price of USD 26 Mill per vessel.