S & P

Whilst Capesize sales activity has been dominating market reports over recent weeks, there are no sales to report in this sector today.

This week's main point of interest is the enbloc sale of 3 x 'SDARI Dolphin' type Supramax bulkers M/V IDA SELMER, M/V THOMAS SELMER and M/V HELGA SELMER (57,000 dwt 2010/2011 blt Taizhou Sanfu) by Clients of Taizhou Sanfu Shipyard to Clients of Precious Shipping, Thailand. The reported price is US$ 26.5m per vessel basis 20%/80% payment terms. These vessels were originallycontracted by Clients of Oskar Wehr (Germany) but were eventually cancelled due to excessive delivery delays. It is important to note the vessels have been idle at the yard for a considerable amount of time. They were launched late 2009/early 2010. We understand the vessels will be delivered to the new owners in 2-3 months time.

In the handysize sector we understand European interests have purchased a 37,000 dwt, SDARI Design, resale delivering ex Shandong Huahai Shipyard during September 2011 for a reported price of US$ 23.6m.

On the other end of the age scale, M/V LORD BYRON (25,694 dwt 1985 blt Imabari SB) has been sold to Russian buyers at US$ 5.7m. 

Not much to report in the Tanker S+P market.

The Lr1 M/T SN FEDERICA (72,344 dwt 2003 blt Hudong) reported sold within Italy to Venice Shipping at US$ 26.5m with 3 years timecharter back at US$ 15,000 pd. 

 NEWBUILDING 

With everyone now back from their summer holidays, the market has still remained quiet with Owners seemingly remaining cautious when it comes to placing any new orders, even when faced with some attractive opportunities from the Chinese yards, who as mentioned in previous reports are keen to fill their remaining 2013 capacity. It will be interesting to watch how this story develops, especially if thereis any truth to the rumours currently doing the rounds vis a vis potential ordering of VLCCs at Chinese yards, as this in turn will guide yards pricing ideas going into the latter stages of the year.

With the conventional markets looking set for some choppy times ahead, yards are looking at other sectors to take up the spare capacity left by the lack of dry and wet ordering. With the continuing high oil price, focus has naturally turned towards the Offshore market as perhaps being able to play this white knight role until the other sectors start to see some recovery, however although values for offshore assets are high, it is unlikely that the number of orders will get close to filling the yards capacity requirements in the upcoming months and they may find themselves competing over relatively few orders between themselves! 

In terms of reported business clients of Seaspan Container Lines have declared two more of their options at Yangzijiang Shipyard for 10,000 teu container vessels at a price understood to be at circa USD 98 million each with deliveries inked in for August and October 2014.

Elsewhere in China at Chengxi Shipyard, clients of CSL have declared their options for 2 more 35,000dwt self unloaders to be delivered in February and May 2013.