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Markets > Market Reports > S&P Dry Cargo > A significant amount of resale business this week... Archive:
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A significant amount of resale business this week...

17 December 2012

There has been a significant amount of resale business concluded this week. In the Kamsarmax sector, “Hull SO56” (82,000 dwt, built Hyundai Vinashin, 2013) has been sold to undisclosed buyers for $23m. The vessel was originally contracted by clients of Hyundai Investment Corp and is due to be delivered around April 2013.

Sinopacific Shipbuilding continued their sales run with the conclusion of another “CROWN 58” from their Dayang facility. “Hull DY147” has now been sold to Greek buyers for $20.2m on the basis of delivery in January 2013. This follows the yard’s recent sales of three other “CROWN 58” ships for slightly higher levels of around $21m, to Chinese buyers, as well as two “CROWN 63” Ultramax (Hull DY4023/DY4021) for $24.5m each to undisclosed buyers.

Another resale to report this week is that of “Hull H4066” (35,000 dwt, built SPP Shipbuilding, 2012, C4x35t) from clients of Roxana Shipping S.A. to clients of Empremar, Chile. It is reported that the buyers paid a price of around $25m for this vessel. This price looks very firm when compared to the recent sales of “NORD ANTWERP”, “NORD AARHUS” and “NORD DUBAI” (33,221 dwt, built Hyundai Mipo, 2011/12, C4x30t) for $61.5m en-bloc. We understand this high price may be related to the fact that clients of Empremar specifically wanted to purchase a sister unit to “SPL TARAPACA” (which they bought in 2011) that could be delivered within 2012. We believe further information to help explain this level may come to light in the coming weeks,

Offers were invited this week on “IKAN BAYAN” (75,777 dwt, built Sanoyas, 2005) after as many as 15 buyers had requested to inspect her in La Coruna earlier this month. We understand the Japanese owners received only a limited number of offers and have now committed the vessel to Greek interests for around $15.5m. Other Japanese owners have reportedly sold the post-Panamax coal trader “PEGASUS ISLAND” (77,830 dwt, built Mitsui S.B., 2002) to undisclosed buyers for $12.2m. Elsewhere, the financiers of “TPC ARIRANG (71,535 dwt, built Hitachi, 1994) have sold this ex TPC Korea owned vessel to undisclosed buyers for a price of $7m. We are hearing that the bank may have provided finance to the buyer which would explain the firm level.

In the Handymax sector we are hearing “SELANDIA” (48,139 dwt, built Stocznia Gdansk, 1996, C4x35t) has been committed for around $6.5m. Another older sale is that of “YOU XUAN” (43,697 dwt, built Tsuneishi Zosen, 1990, C4x30t) for $4.5m to undisclosed buyers.

© Clarkson Research Services Limited 2014