S & P 

The supramax bulker M/V AKIBA (57,257 dwt 2011 blt STX) which suffered a grounding in Mozambique earlier this year and which was subsequently towed to Singapore, has been sold on an “as is where is” basis at US$ 7.5m. The Splosna Plovba controlled M/V LJUBLJANA (42,717 dwt 1997 blt IHI) is understood to have been committed to Greek buyers at region US$ 8.6m.

The summer lull continues and with the week interrupted by a number of national holidays across the world the level of enquiry has dipped to typical seasonal lows.

Several reports mentioning that the 2007 built pumproom type MR Tanker M/T FREJA SELANDIA (53,815 dwt 2007 blt Shin Kurushima) is committed on subjects at region US$ 21.5 m. to undisclosed buyers, however understand that vessel is not concluded yet and can be still negotiated. The part stainless chemical carrier M/T BATTERY PARK (15,037 dwt 1991 blt Kurinoura st/st center tanks, zinc wings) has been concluded at US$ 2.9m to Greek buyers.

NEWBUILDING  

The market has seen a flurry of activity this week, with a number of new orders being placed in various sectors such as Dry, Tankers and even Multipurpose. This is perhaps unsurprising with many of the yards having recently returned from their summer holidays and thus eager to get the latter half of the year off to a good start. As has been the case for much of 2012, these latest orders have all been for fuel efficient & economical designs and we are now beginning to see signs that the shipyards development work of the past year is paying dividends.

Despite this recent activity, the newbuilding environment does continue to remain a challenging one for the yards. This has been clearly seen with recent earnings announcements, wherein the yards in both Korea and China have witnessed a sharp drop in earnings throughout the 2Q of 2012. To help counter this and the relatively limited demand in the conventional sectors - we continue to see many of the yards broaden their product ranges, as witnessed with the ACL RoRo Containership order at Hudong. Orders such as this, in these more niche sectors, will continue to attract the major yards interest as they look to supplement their production lines, whilst patiently waiting for interest to pick up again in the more conventional markets.

In terms of reported business; In Dry, DST Shipping, Greece are understood to have placed an order at IHI for a pair of 56,000dwt Supramaxes. Pricing the vessels are understood to be scheduled for delivery in Early 2014 and believe pricing is in the higher USD 20s Mill. Clients of Fednav are reported to have returned to Oshima Shipbuilding for 6 x Ice 1C 35,000dwt Handysize Bulk Carriers, with deliveries scheduled to begin in 2015 and carry on through into 2016. Pricing has not been disclosed. Following their recent business at Jinhai, Clients of Laskaridis are understood to have also placed an order at Penglai Jinglu for 2+2 x 64,000dwt Bulk Carriers. Like the Jinhai units, it is understood these units will deliver from 2014 onwards. Lastly in Dry, Qingshan Shipyard are understood to have won an order from German buyers for 6+3 x 43,500dwt Handymax Bulk carriers. These vessels are provisionally set to deliver from 2Q 2014 onwards and are understood to have cost in the region of USD 23 Mill per vessel. In Tankers, Guangzhou Shipyard International (GSI) are reported to have won an order from Norden D/S, A/S for 2 firm, 38,000dwt MR1 Product Tankers. These units will deliver in 2014 and pricing is understood to lie in the region of USD 27 Mill. It is understood they also hold options for up to a further 4 units.

Finally in other sectors and as mentioned above, Atlantic Container Line (ACL) have placed an order at Hudong-Zhonghua Shipyard for five multipurpose roro containerships. These innovative vessels are capable of carrying 3,800 TEU and are expected to deliver from the end of 2014 onwards. Pricing has not been disclosed.