Dry bulk shipping market speeded up the downturn in the last half month with weak market demand. Secondhand bulker trading activities are still in depression and only few buyers enquired about bulkers smaller than 5000dwt.
Many domestic bulker owners are looking around to offload vessels on hand but were frustrated by the bleak shipping market and low asset prices. Many shipyards even put the vessels under construction for sale. However, shipowners are mostly cautious about expanding fleet in the current situations.
Several ten-year to twenty-year Handysize and Handymax bulkers were reported to change hand globally. But insiders predict the price will go downward further. It is reported the value for a 57,000dwt bulker for international routes with crane has dropped to about $23m.
The price indices for secondhand bulkers have seen different declines in the period. Few transactions of five-year 5,000dwt bulkers were reported at almost bottom price and almost no activity was reported about other type bulkers.
In the period, secondhand tanker sales and purchase market perform quite plain. The enquiries mainly focus on 600dwt and smaller bunker tankers and 1,000dwt tankers. Many buyers are looking for 2,000-3,000dwt double-hull tankers, but the supply in the market is too limited.
The chartering market of 4,000dwt product tanker is quite active in the period, which demonstrates the strong demand of terminal market as well as the oversupply of the capacity. Therefore buyers are becoming more and more prudent in gaining new vessels and are trying to avoid risks by chartering instead of purchasing.
A new-built 8,800dwt product tanker which is to launch by the August is quoted at $$50m. Shipbrokers say that numbers of 4,500dwt product carriers are for sale recently and the price is likely to drop further.
According to shipbrokers, five-year 3,000dwt single-hull tanker has no more market space and keeps the same price with last period. Besides, price of three-year 5,000dwt tanker has fallen with the capacity growing saturated.
International container shipping market continues to rise. But many insiders think the freight rates have almost come to the ceiling and are unlikely to increase further.
Some owners in South East Asia are looking for low-draft deck barge with many relevant projects being launched.