Domestic coastal dry bulk shipping market continues the declining momentum in the last period and secondhand bulk carrier transactions also remain depressed.
In the period, some shipowners enquire about 3,000dwt bulker for domestic coastal shipping and South East Asia route services. Demand for 5,000dwt and 10,000dwt bulker is still moderate due to the stable shipping conditions.
Many shipowners who wish to offload their bulkers are unwilling to accept the low prices the buyer offers and are still struggling for survival. On the other hand, intended buyers who want to go bottom fishing quoted pretty low prices with concerns that the ship value may go downturn further. Therefore, Owners and buyers get caught up in a long-lasting price war. It is rumored that the transaction negotiation for a 5,000dwt bulker came to an impasse just for a CNY200,000 bargain.
Secondhand tanker market in the period also kept quiet. 600dwt and smaller bunker tankers are relatively hot domestically. Besides, some buyers are looking around for 1,000dwt tankers. A six-year 1,000 Grade III tanker with heating equipments was traded at $630,000.
Recent oil shipping market has weakened with freight rates softened mildly. However, the finally demand for oil is still strong and the future is still hopeful.
The overall conditions for secondhand tanker are bleak in the period and prices for all tanker types see different declines. The market space for single-hull tankers has been further squeezed and insiders suggest owners to offload at low price or to converse into double-hull.
With the international container shipping freight rates going upward further, the demand for containerships and MPVs are still strong. However, shipowenrs’ willingness to sell their ships isnot that strong and thus transaction activities are not so active.
In engineering ship market, some owners enquire about 500dwt or smaller deck barges and 5000ps /80dwt ASD tug.