Thursday, April 8, 2010

Sale and Purchase Market Report for the Week Ending 02.04.2010

Good specification dry tonnage remains very much in demand, although less
deals have emerged this week in comparison to recent times. Prices remain
firm and in line with recently established levels. In the container market,
prices are generally improving. Interestingly there are few, if any, large
modern container vessels available for sale and an increasing number of
potential purchasers looking to buy, in the belief that sale prices have now
reached the bottom. The wet market remains quiet with no major deals to
report.

Newbuilding enquiry and contracts remain at healthy levels. Yard orderbooks
are starting to look a lot better with all 2011 berths in Korea now
reportedly gone and most in China. This week has seen the reported order of
seven kamsarmaxes at the Korean Shipyard SPP by European owners. The Korean
yard is said to be pricing the vessels at excess Usd 36 million per vessel.

Demolition prices remain very firm with a couple of tanker vessels reported
sold as is Singapore and Fujairah for the extremely good price of Usd 465
per lt. Whether the market can sustain such prices remains to be seen.
Possibly in the short term, as breakers remain keen to secure tonnage before
the monsoon season. Chinese breakers continue to struggle to compete and as
a result activity in this market remains weak.

Name Type Dwt Blt Price Buyer
-------------------------------------------------------
China Venture Cape 176,000 05 USD 55.00 M China
(incl t/c at usd 22,450pd until 7/2011)
Dura Cape 105,496 81 USD 7.50 M China

Arabella Pmax 75,500 01 USD 33.80 M India
Bahia Blanca Pmax 74,043 98 USD 28.25 M Cyprus

Guodian 9 Hmax 50,383 94 - Undisclosed
Aristea M Hmax 45,584 97 USD 21.70 M Undisclosed
ZSQ Star Hmax 45,470 86 USD 7.50 M Middle East
SJN Intrepid Hmax 43,648 94 USD 18.40 M Greece
Golden Hmax 38,099 85 - Undisclosed
Patriot Hndy 31,550 02 USD 24.20 M Greece

Heloise Hndy 29,800 10 USD 27.00 M Hong Kong
Shanhaiguan 027 Hndy 29,800 10 USD 27.00 M Hong Kong

Oliva Hndy 12,349 85 USD 3.05 M China
Eltsen Single 6,471 81 USD 0.80 M Turkey
Apollo Eagle Single 6,341 72 - Undisclosed

Iwato 1613teu 24,372 95 USD 7.50 M Undisclosed

Gaz Galaxy Gas 7,000 02 USD 20.00 M Turkey
Gas Prodigy Gas 3,930 95 USD 5.00 M Indonesia
Gas Prophet Gas 2,999 96 USD 17.70 M Undisclosed en bloc
Gas Texiana Gas 5,589 95 " " " "
Sigas Centurion Gas 1,872 84 - Russia
Zephyr Gas 1,800 85 USD 1.25 M East Europe

Sea Sapphire Tank 96,173 94 USD 10.50 M Undisclosed
Taiyoh I Tank 89,960 91 USD 6.00 M Indonesia
Sanon Tank 19,500 04 USD 22.00 M Europe
Shoshun Tank 8,500 99 USD 7.50 M Taiwan
Mars Tank 4,990 96 - Vietnam

Wealth Star Twee 16,954 91 USD 4.50 M Undisclosed
Inter Noble Twee 8,123 90 USD 3.10 M Undisclosed

Demolition
==========
Geni 3 Bulk 3147/LDT 75 USD 410.00/ton Pakistan
Matinelli Bulk 5769/LDT 80 USD 380.00/ton India
Holy Light Bulk 7641/LDT 77 USD 418.00/ton Bangladesh
Msc Toba Cont 18558/LDT 82 USD 425.00/ton India
Tower Bridge Cont 13140/LDT 85 USD 360.00/ton China
Car Bridge I Roro 14134/LDT 81 USD 425.00/ton Bangladesh
Theresa Ii Tank 5268/LDT 82 USD 395.00/ton Bangladesh
Kriti Akti Tank 8597/LDT 86 USD 440.00/ton India 'as is' Fujairah
Marie C Tank 1250/LDT 74 USD 675.00/ton India
Al Farabi Tank 12770/LDT 86 USD 470.00/ton Bangladesh
'as is' Spore incl 130t st/steel
onboard
Hesnes Tank 16350/LDT 90 USD 465.00/ton Bangladesh 'as
is'Singapore
Kamee Tank 84 USD 450.00/ton Bangladesh
Ce-Pacific Tank 88 USD 465.00/ton 'as is' Fujairah
San Sebastian Twee 3891/LDT 74 USD 432.00/ton India

(All details given in good faith but without guarantee)

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