The performance of domestic dry bulk shipping market got even worse in the period with coastal coal shipping freight rates weakening further. Secondhand bulk carrier transaction activities were still quite plain and the enquiries for originally hot 5,000wt and 15,000dwt bulkers also saw declines.
It is reported that a 2005-blt 12,000dwt bulker was quoted at $3.2m, but the buyer still asked to lower the price. Some owner in Jiangsu Province is looking around to order 54,000dwt bulker by the end of this year and to order another CCS-classed 73,000dwt one next year. Besides, an individual owner in Zhoushan city is planning to build a 40,000dwt bulker and is opting for the proper yard. The ship type comes as a glimmer of hope in the bleak shipbuilding market in China.
The continuing subdued shipping market has further blocked owners from buying new bulk carriers. As a result, the prices for different secondhand bulkers all witnessed weakness in the period.
The wet market remained stable in the period, however secondhand tanker transactions were relatively stagnant. Statistics show that it is still the buyers’ market at present with sales resources far greater than purchase demand.
An owner from Fujian Province ordered a CCS-classed 3,900dwt product tanker at a cost of $3.7m. A South East Asian buyer was said to buy a 1988-blt 2,000dwt tanker at about $635K. Besides, a six-year 3,100dwt Grade I tanker and a same 3,500dwt one were separately changed hands at $2.14 and $1.90. However, the value of Grade I tankers was on the downturn despite the active trading market. It is reported a six-year 2,500dwt Grade I tanker cost $1.75m last year, but the assessment of the same size has fallen below $1.59 till now.
International container shipping freight rates saw mild rise in the period, however it failed to boost secondhand boxship transactions and prices.
The demand for offshore plants from South East Asia countries is still strong. A Korean buyer was in negotiation to purchase a China-built floating crane at about $1.3m.
In the period, steel plate price continued to decline and further depressed shipbreaking market. A 1980-blt 5,000LDT bulker was quoted at $1.98m, but almost no buyer accepted the price.