S & P

An active week for Dry S+P market with much interest focusing in the Panamax sector.

A prompt delivery (within July) newbuilding M/V SULAWESI (82,500 dwt 2013 blt Wuhu Xinlan) is committed to Greek buyers for US$ 26m.

The Panamax M/V SHOYO (76,942 dwt 2006 blt Namura) is committed to Greek buyers at a price in excess of US$ 20m while the one year older M/V IKAN KEMBONG (76,447 dwt 2005 blt Tsuneishi) is committed for US$ 17.7m basis drydock survey due in August. The geared panamax M/V MP PANAMAX 4 (69,925 dwt 1995 blt Sanoyas) reported sold to undisclosed buyers for US$ 7.5m.

Clients of U‐Ming Marine Transport have agreed the sale of M/V ASIAN GLORY (45,194 dwt 1996 blt CSBC) to Chinese buyers for US$ 7.8m.

M/V PIONEER STAR (33,540 dwt 2004 blt Shin Kurushima) has been sold to Russian buyers for around US$ 14.6m. Otherwise M/V ORIENTE GRACE (22,020 dwt 1994 blt Saiki) sold for US$ 4m to Chinese and undisclosed buyers are paying US$ 4.4m for M/V ASIAN GRACE (20,412 dwt 1999 blt Wuhu).

In the Tanker S+P market, Japanese Owners have now sold the pump room type MR M/T HIGH ENERGY (46,874 dwt 2004 blt Naikai) at region US$ 16.3m to undisclosed buyers while the similar M/T PACIFIC OASIS (47,999 dwt 2004 blt Iwagi) has been committed at US$ 17m.

D’Amico International Shipping have sold the 2x 1999 built MR Tanker M/T HIGH SPIRIT and M/T HIGH CHALLENGE (abt 46,500 dwt 1999 blt Daedong) which continues their programme of selling out older tonnage as they expand their New Building Programme. The two ships are rumoured to have been sold to Russian interests at region US$ 12.2m each.

NEWBUILDING

Another active week in the newbuilding market, with new orders again particularly focussed in the dry bulk sector. Away from dry we have seen a number of further orders being placed in the MR and LR2 coated tanker markets and further orders being reported across the gas, container and even into the small cruise market. Starting with dry, and we have seen Clients of Diana Shipping contracting two firm 208,500 DWT Newcastlemax bulk carriers at Jiangnan. These orders, understood to have been signed last week and both are lined up for delivery in the second quarter of 2016. Pricing was reported at USD 48.7 Mill. Although signed in April, it has also been reported that Cargill International has contracted three firm 180,000 DWT at SWS with delivery of all vessels in 2015. Meanwhile, it is understood that Clients of Laskaridis have placed an order this week for two firm plus two option 82,000 DWT Kamsarmax at Penglai Jinglu. Delivery of both the firm vessels and options are planned for 2016. Further to this order, it is also understood that Clients of Laskaridis have placed an order for an additional 4 firm 64,000 DWT Ultramax at the same shipyard, with delivery in 2014 and 2015.

The coated tanker market has seen further ordering this week, which has been focussed on MR and LR2 sectors. Clients of Flagship Marine Ventures are reported this week to have placed orders for two firm plus two option 114,900 DWT LR2 product tankers at DSME. Although pricing was undisclosed, delivery of the firm vessels is planned for the first quarter of 2015 and options also in 2015 if declared.

Additionally Clients of D’Amico are understood to have declared the 7th and 8th options in a series of 50,000 DWT MR product/chemical tankers at Hyundai Vinashin. The declared options are due for delivery in the third quarter of 2015 and to be IMO 2/3 grade.

In the container market, this week it was reported that Jinhai Heavy has taken an order for a total of ten 8,800 TEU container carriers from SinOceanic Shipping. Pricing remains undisclosed, however delivery is spread from the middle of 2015 to the end of 2016. There have also been unconfirmed reports of a single gas ship order this week with Epic Shipping understood to have contracted a single 5,000 cbm LPG carrier at Murakami Hide. Finally, Brodosplit Plovidba were reported to have placed an order for a single 2,000 DWT Cruise ship for delivery in 2015 at Brodosplit.