Despite the increase of coal consumption and economic recovery, the overall ship industry slack still not improved radically. Secondhand ship transactions keep warming up.

Buyers’ interests in small secondhand bulkers continue to increase, however the offered quotations are relatively low affected by recent low-price auction sales. Enquiries for 5,000dwt bulker and 10,000dwt-20,000dwt units all see increases in the period. The freight market for 10,000dwt-20,000dwt bulkers pick up obviously with the cargo supply growing adequate. Buyers confidence and transaction volume also increase, however the prices stay going downward. Prospects for 20,000dwt and bigger units are getting positive and buyers’ willingness for bottom fishing is getting stronger.

A Five-year 5,000dwt bulker and another two-year 2,500dwt bulker were reported to be changed hands at a rumored price of CNY7.10m and CNY4.50m separately. The year-end cargo surging has driven the secondhand ship prices up slightly, which is likely to continue for a while.

Demand and enquiries for secondhand tankers witness mild increase in the period although gas and oil market has entered traditional off season. Enquiries for 1,000dwt Grade 3 tankers with heating equipment are most active. On the contrary, enquiries for 2,000dwt – 3,000dwt tankers declined for most elder units are of single hull. Buyers’ interests in 3,000dwt to 5,000dwt tankers stay plain. The quotation for new-built 5,000dwt tankers has fallen to as low as CNY29.0m.

It is reported a new-built 4,200dwt product oil tanker were transacted at an undisclosed price and the market assessment for the ship type is about CNY27.0m. Another new 920dwt Grade 3 tanker was changed hand whose price is also unrevealed.

Purchase enquiries for containerships and MPPs see slight decline in the period. Some buyer is looking for 15,000dwt MPP for domestic services. Small units are relatively popular currently.

As for engineering ships, some buyers are looking for 800PS to 1000PS tugs. It is rumored that buyers from South East Asia are looking for split hopper barges around 2,000dwt on a large scale.