Secondhand bulker S&P activity has seen great drop in the period with few transactions concluded. With days growing warm and coal trading increasing, the domestic coastal coal shipping freight rates have began fell recently and make the conditions worse.
Few 15,000dwt secondhand bulkers are reported to change hand at low prices. A seven-year 12,000dwt bulk carrier was traded at about $3.3m and a three-year 15,000dwt bulker transacted at $4.4m. The cancelled orders for 20,000dwt-30,000dwt dry bulk carriers has been on the rise recently, more and more owners or shipyards are considering to resell the vessels under construction at low prices to pay off the heavy loans.
The enquiries for 5,000dwt bulkers declined mildly in the period and the assessment for five-year 5,000dwt bulker witness mild drop. But if the depressed freight rates continue, ship values are likely to decline further. Prices for three-year 16,500dwt and 22,500dwt bulkers decrease due to bad market and low price has almost been the only condition of final transaction.
In the period, tanker market is also quiet. Government’s policy of controlling product oil consumption has been become effective recently. The demand for 4,000-5,000dwt tanker and Grade III tanker with heating equipment declined recently. However, the Grade I gas carrier is still hot in the market.
With the policy control and price downturn going on, owners’ appetite for tanker has become more rational.
With the sharp rise of international container shipping freight rates, the demand for boxship and MPV also increase. The enquiries mainly focus on 5,00teu and small units.
Secondhand self-discharging sand carriers is hot in current engineering ship market and the prices have kept rising due to the approval limitation for new ships. The assessment for three-year 4,000dwt sand carrier is now about $1.59m.