S & P 

It has been a busy week in the S+P market this week with a number of units being sold;

In the Capesize sector clients of Dynacom have purchased the former Deiulemar controlled prompt resale capsize from the mortgagee bank, M/V ALBERTA DELLA GATTA (175,125 dwt 2012 New Times) for a price of US$ 38m.

In the Supramax sector, a pair of STX Korea built supramaxes, M/V PRISCO ABAKAN and M/V PRISCO UDOKAN (57,334 dwt 2009 blt STX) reported sold at US$ 21m each to Navios.

The Greek controlled handymax M/V FURIA R (46,664 dwt 1996 blt Mitsui) has been committed to Bangladeshi buyers for a price in the region of US$ 10.6m.

On Handies, the Daiichi controlled M/V AZURITE OCEAN (32,178 dwt 2002 blt Hakodate) is committed to undisclosed Chinese buyers for a price in the low US$ 12's; the vessel has her special survey due in November 2012. The M/V KEN ANN MARU (32,115 dwt 1997 blt Onomichi) which passed SS in May 2012 reported sold to undisclosed interests for region US$ 8.5m.

Clients of Shoei Kisen have sold M/V OCEAN HAWTHORN (24,999 dwt 1999 blt Imabari) to Greek buyers for US$ 7.9m.

Not much to report in the Tanker S+P market.

Bakri Navigation have agreed to purchase the Aframax M/T CHAMPION POWER (105,083 dwt 1999 blt Samsung) at a price of US$ 12m.

The early 90’s blt  VLCC LA ESPERANZA (299,700 dwt 1993 blt Denmark) reported sold to undisclosed buyers at US$ 21m for storage purposes.

NEWBUILDING  

After last week's report bemoaning the decline of the orderbook by 19 percent in terms of dwt, it appears that the market has hit back with a series of orders to help bolster the yards, the most significant of which being the 10 x 13800 teu containerships ordered by clients of Enesel at HHI shipyard. So perhaps it is not all doom and gloom for shipyards and there may even be positive signs for some sectors! We may have only seen USD 22 billion invested in new orders so far this year, which is a significant fall when compared to previous years, but in certain sectors such as tankers and in particular the products market, we have seen investment increase over 14% compared to 2011, which in turn equates to around USD 3 billion of investment.

It is probably far too early to say that any type of corner has been turned for the shipyards yet, but at least from their point of view they can continue to see that there are still Buyers in the marketplace that are prepared to invest significant sums in shipping and that there still remains the opportunity for yards to win new orders, if they are prepared to offer a more diverse product range as well as continuing to be price competitive.

In terms of reported business; In Containers and as mentioned above, Hyundai Heavy Industries have announced the signing of their deal for a series of 10 x 13,800 TEU Container Carriers, which has finally been signed with clients of Enesel S.A. and then chartered to Evergreen Marine Corp. of Taiwan. Deliveries of these vessels is due to begin from 2H 2013 and throughout 2014 and pricing is understood to stand at circa USD 114 Mill per vessel.

In Tankers, Stena Bulk are understood to have placed an order for 4 firm 50,000dwt parcel tankers at Guangzhou Shipbuilding International. This deal is in addition to the 2 units recently reported ordered by Concordia Maritime, Stena¡¯s listed subsidiary - bringing the total order at the yard to 6 firm units. In addition understand the deal includes options for a further 4 additional vessels. Pricing for these units is understood to stand in the high USD 30s Mill and deliveries will begin from 2Q 2014 onwards.

In Dry, clients of Ultrabulk Shipping are understood to have ordered 1 option 1 x 38,000dwt Handysize bulk carrier at Imabari shipyard in Japan, which is slated for delivery in 2H 2014, at this stage pricing remains undisclosed.

In Gas, clients of Turkish owner Negmar Denizcilik Yatirim AS are understood to have placed an order at HHI for 2 option 2 x 38,000cbm LPG Carriers with deliveries from End 2013 onwards. Pricing for this order is understood to lie in the USD 48s Mill per vessel. Finally, Kawasaki are also understood to have won an order from Mitsui O.S.K. Lines for 1 x 164K CBM LNG Carrier to be delivered in 2014. This vessel is in addition to the unit reported last week also ordered by Mitsui OSK at Mitsubishi Heavy Industries. Like that unit, pricing has not been disclosed for this Kawasaki design.