In continuing weakness of global economy, shipping market is unlikely to pick up in short terms. Domestic coastal dry bulk shipping also remains depressed.
In such conditions, market demand for big bulk carriers see further decline in the period, especially for 20,000-30,000dwt bulkers. While on the other hand, more and more owners begin to dispose large bulkers at hand. Comparatively, enquiries for small bulkers of 2,000-5,000dwt are more active.
It is reported that a 23,000dwt bulker under construction was resold at about CNY35m and a six-year 14,000dwt bulker was changed hand at a price of CNY23m. Besides, a seven-year 5,000dwt bulker and a same old 4,300dwt one were transacted at CNY6.5m and CNY5.5m separately.
The indices for secondhand bulk carriers are on further declines in the period. More 5,000dwt bulkers were undersold. Transaction prices for secondhand 16,500dwt bulkers are depressed almost close to that of 5,000dwt ones. Prices for 22,500dwt bulkers also begin to soften under growing pressure.
Oil shipping market stays stable in the period while secondhand ships transactions are still sluggish. Enquiries for secondhand tankers declined sharply, even for originally active small ones. Domestic shipbrokers also express their concerns over the future trend.
The current quoted price for a CCS-classed 11,000dwt oil & chemical tanker (2009 blt) with stainless steel interior is was about CNY82m. A newbuilt 590dwt Grade III tanker with heating equipment was quoted at about CNY2.8m. Besides, it is rumored six oil & chemical tankers are detained by the bank.
Despite of the slack in secondhand transactions, newbuilding price for tankers is still stable and current demand for product oil is also strong. However, with the growing control on product oil consumption and encouragement of energy-saving vehicles application, the future of product oil and tanker shipping market is still full of uncertainties.
In secondhand containerships market, prices for 100-500TEU containerships decline mildly recently. However, shipping freight rates for the ship types are till strong and there are still buyers looking for 100-500TEU ones.
According to insiders and shipbrokers, global and domestic scrapping market is still in a depression and sees no hope of recovery.