S & P

An older Cape size with ss passed on 12/2010, M/V PHENIX (151,227 dwt 1990 blt Sumitomo) reported sold for US$ 10.8m.

The Russian-built handymax M/V AQUILA ATMOSPHERE (48,640 dwt 2002 blt Baltic Shipyard) has been sold for US$ 14.85m to Greek buyers.

M/V ID SYMPHONY (23,716 dwt 1995 blt Kanasashi) reported sold to European buyers for US$ 11.8m. 

M/V VINASHIN IRON (22,828 dwt 1984 blt Mitsubishi) which is due for drydocking in July has been sold for US$ 4.4m to Chinese buyers. 

In the tanker S+P market, M/T KNOCK MUIR (97.097 dwt 1993 blt Samsung) is sold to Soechi for US$ 12.5m. 

M/T HIGH CENTURY (48.676 dwt 2006 blt Iwagi) reported sold to Italian buyers for US$ 23.8m.

Finally, Nigerian buyers are said to have agreed to buy from Knustsen OAS the chemical/product carrier M/T HILDA KNUTSEN (14,910 dwt 1989 blt Spain) and her 1990-blt sister vessel M/T TORILL KNUTSEN for an en bloc price of US$ 12m. 

 NEWBUILDING 

As we mentioned last wee, we have certainly seen that following a short period of significant quietness, the container market, once again is dominating the headlines in terms of reported business. Not only have NOL finally signed up to their significant order at Samho, an order fiercely contested by not only the major Korean Yards but also those in China, it is China that have lead the headlines towards the end of the week. They have reaffirmed their position to be open for business and are now offering the same level of support to the German Owners as they have been so vocal in offering to the Greek market over recent times.

We have seen the State Chinese Bank, the China Development Bank flexing its muscles and offering a reported USD 1 Billion credit line to the Peter Döhle Schiffahrts KG, thus allowing them to put a letter of intent in place with the ever active Jiangsu New Yangzijiang Shipbuilding (JNY) for a long series of 10,000 TEU Vessels. This is a great show of strength by the Singaporean stock listed JNY making their presence even greater in the large container sector, following their potential USD 2.5 Billion order with Seaspan earlier in the month. It will be interesting to see over the coming months if the Chinese Yards are able to win more and more of the Korean Yards bread and butter business of larger container ships.

In terms of reported business; In Containers, Neptune Orient Lines (NOL) are reported to have ordered a series of 10 x 14,000TEU Container vessels which have been placed at Hyundai Samho. The vessels are preliminarily scheduled throughout 2013 & 2014 and are believed to be priced in the region of USD130 Mill per vessel. NOL are also reported to have signed an additional pair of 9,200TEU Vessels at DSME to be delivered in 2013. Sinotrans are reported to have signed a pair of 1,100TEU container ships at Qingshan Shipyard for deliveries in 4Q 2012, though understand these were in fact signed in April 2011. In addition, we also understand that TS Lines have ordered 4 x 1,800 TEU Vessels at CSBC due to deliver from End 2012 and throughout 2013, like the Sinotrans business though we understand this was signed back in April too.

Finally in Wet, Tankers Inc have signed a deal for 2 option 2 x 75,000dwt Product carriers at Dalian Shipbuilding (DSCI). The vessels are all due to be delivered within 2013 and believe pricing will be in the region of USD 45 Mill.