S & P

In the Panamax sector the M/V AMFIALOS (71,749 dwt 1990 blt Hitachi) has reportedly been sold to Far Eastern buyers for US$ 4.65m.
Most sale last week reported in the Handumax sector.
Following inspections in Japan at the end of January, the Japanese controlled grab fitted handymax bulker M/V NIKKEI TIGER (45,363 dwt 1997 blt Oshima) has been sold for a price in the region of US$ 8.1m to undisclosed buyers (most probably Chinese), the Vessel will be delivering to her new Owners in April‐Mary 2013 in the far east.
The M/V NENA M (43,176 dwt 1995 blt Hyundai) has been sold to undisclosed buyers for US$ 7m. Clients of Rickmers Reederi have reportedly sold four late 90's Polish built (11,800 MT LDT) conbulkers, M/V VALPARAISO, VALBELLA, VALPARAISO (abt 44,500 dwt 1998 blt Poland) and VALDIVIA (46,376 dwt 1998 blt Poland) achieved a price of US$ 20m enbloc to Chinese buyers, the lower price reflective of their build and high consumption.
In the Tanker S+P market, the VLCC MAERSK ELLI (308,491 dwt 2000 blt Hyundai) has been sold to offshore Buyers mssrs SBM Offshore at region US$ 32m.
The third Aframax for Bakri recently acquired is the Mitsui OSK’s M/T PACIFIC PARTNER (105,946 dwt 2004 blt Hyundai) for which have paid US$ 19.3m.
The fully stainless M/T CLIPPER OCEANICA (12,099 dwt 2005 blt Japan) reported sold for US$ 11.5m.

NEWBUILDING

Further reports of business this week and the market continues to deliver a steady stream of enquiry and concluded business.
There remains a continued drive of investment into Dry, with speculators taking advantage of a relative stability in values over the last 12 months or so ‐adding credibility to current market levels and a view that we are firmly at the bottom of the market. With berths now being absorbed through 2014 and into 2015, capacity is not as abundant as buyers would like and consequently we are starting to see certain sectors of the market starting to edge pricing up.
In wet, the products story remains resilient, and the MR and LR2 sectors of the market continue to demonstrate good levels of enquiry.
Certainly a more active opening to the year than 2012 ‐ how sustainable this will be remains to be seen and no doubt that whatever business is being concluded continues to be at challenging levels for shipyards to accommodate.
In terms of reported business Malaysian Bulk Carriers Berhad contracted a single firm 56,000 DWT Supramax at Mitsui Shipbuilding. It is understood that the vessel will be operated as part of the owner’s subsidiary Ambi Shipping and is a 70/30 joint venture with Mitsui. Pricing was not disclosed, however delivery is understood to be in the first quarter 2015.