S & P

A Kamsarmax resale from the Chinese shipyard Wuhu Xinlan SDARI 82k design M/V SUMATRA (Hull No. W1021 – 82.500 dwt 2013 blt) which had completed sea trials and ready for prompt delivery, reported sold to clients of Golden Ocean for region US$ 25m.

In the Supramax sector, the resale YANGZHOU DAYANG DY4012 (63,500 dwt June 2013 blt) reported sold to undisclosed Greek buyers at US$ 25.1m.

The Japanese controlled M/V VALENTE ACE (56,678 dwt 2008 blt IHI) after inspected by 6 buyers during her SS/DD in Naikai, Japan, understand she is committed to Greek buyers for US$ 20.5m. Other activity in the segment includes the sale by clients of Glocal of M/V GL PRIMERA (58,758 dwt 2007 blt Tsuneishi Zhoushan) which passed SS/DD in October 2012 for a price in the region of US$ 18.5m to European interests.

In the Tanker S+P market, it is reported that DK Maritime of Korea have sold the VLCC ‘BLUE JADE' (320,105 dwt 2012 blt Daewoo) to conversion Buyers for use in the offshore sector. We understand that Buyers have paid region US$ 74m.

In the Aframaxes, the M/T OLYMPIC SERENITY (96,733 dwt 1991 blt Sumitomo) is sold to Middle Eastern buyers for region US$ 8m.

The LR1 M/T STARLING (73,723 dwt 2008 blt New Times) has been sold to Greek buyers for US$ 24 million. The M/T MORNING GLORY VII (73.980 dwt 1999 blt Onomichi) is sold to Econav for US$ 8.7m.

Having declarer a purchase option, Odfjell paid US$ 23m for the stainless steel chemical tanker M/T BOW ENGINEER (30,086 dwt 2006 blt Kitanihon); the vessel is on charter to Odfjell with another 5 years to run.

NEWBUILDING

This week has seen a moderate number of orders being reported with activity focussed on the smaller sizes in dry and containers and further orders in the MR sector. Handysize ordering activity has been relatively subdued so far this year compared to the larger Capesize and Supramax sectors, which have both seen a considerable number of orders. This week has seen the first reported order for the new Handysize design from the SDARI design house in China. It was reported that Clients of German owner Peter Dohle placed an order for three firm and two option 38,800 DWT SDARI Handysize at Jiangsu Hantong. Although pricing was undisclosed, delivery of the first vessel is understood to be in the second quarter of 2015 with subsequent vessels at 2 month intervals. This sector saw further orders with Uni‐Asia Finance Corp reportedly contracting three firm 37,000 DWT Handysize at Japan’s Imabari. Delivery of the vessels is understood to be planned for one vessel in each 2014, 2015 and 2016 and pricing was reported at USD 24.33 Million.

Further MR orders to report this week with Dong‐A Tanker Co. adding a further two 50,000 DWT MRs at Hyundai Mipo. This takes their total orders at the yard to four firm vessels, with these latest declared options understood to be for delivery in the first quarter of 2015. Pricing was reported at USD 32 Mill.

Apart from orders for two MRs for Gestion Maritime and one of MRs on order by D'Amico, these vessels will be the first reported MR orders at HMD which are due for delivery in 2015 rather than the balance of the orders which are due for delivery this year and 2014. As we have clearly seen over the past months, the remaining capacity for 2014 at the key