Saturday, May 8, 2010

Sale and Purchase Market Report for the Week Ending 07.05.2010

Prices for modern bulk carriers have risen by an estimated 20 pct in the
last few weeks due to the scarcity of real sales candidates. Activity in the
tanker market remains high with Vale securing five more single hull VLCC's
for conversion into Very Large Ore Carriers. Two older double hull
aframaxes, the 'Tigani'(Blt 91) and 'Lochness' (Blt 93), have been sold at
relatively low prices. In the container sector despite the high demand for
quality tonnage many possible sale candidates have been withdrawn from the
market.

In the newbuilding market according to reports over 100 ships have been
ordered since 2009 with kamsarmaxes and suezmaxes being the most popular
choices in the dry and wet sector respectively. This week two resale
supramaxes ex Dayang with delivery second half 2011 have been reportedly
sold for Usd 32,5 m each.
According to some predictions in view of the recent increase in the second
hand container ships values, we might see some Owners start to consider
newbuilding orders especially for smaller tonnage.

The demolition market in the Indian Sub Continent remains volatile, but
Chinese breakers continue to offer very competitive prices.


Name Type Dwt Blt Price Buyer
-------------------------------------------------------
Docecape Cape 151,852 87 USD 10.40 M China

Jin Star Pmax 80,300 09 USD 41.00 M Greece
(incl tc at Usd 14250/d until end 2014)

Xanadu Pmax 73,000 99 USD 30.50 M China

Agios Nektarios Smax 52,540 88 USD 8.00 M China
Nosco Peace Hndy 26,384 83 USD 4.25 M Undisclosed

Silvana Bulk 6,311 92 USD 3.70 M Turkey
Katerini Bulk 5,207 80 USD 0.72 M Syria

Northern Fortune 1899teu 30,685 91 USD 5.50 M China

Shaula Star Vlcc 301,591 94 USD 116.50M Brazil en bloc (conversion)
Polaris Star Vlcc 301,569 94 USD '' '' '' ''
Mirfak Star Vlcc 301,542 94 USD '' '' '' ''
Pherkad Star Vlcc 301,389 95 USD '' '' '' ''
Markab Star Vlcc 301,227 94 USD '' '' '' ''

Tigani Tank 97,114 91 USD 12.50 M Thailand
Livia Tank 93,600 03 USD 38.00 M Egypt
Lochness Tank 90,607 93 USD 14.00 M India
Miss Claudia Tank 40,000 06 USD 27.20 M Denmark
(basis 3 yr b/b tc at Usd 8000/d)
Ostria Tank 39,768 00 USD 8.50 M Undisclosed
Nordanvind Tank 39,580 01 USD 8.50 M Undisclosed
Usuki 1724 Tank 19,990 10 USD 30.00 M USA
Usuki 1728 Tank 19,990 11 USD 30.00 M USA
Bro Opti Tank 7,476 95 USD 5.00 M Fareast
Bro Venture Tank 7,476 95 USD 5.00 M Fareast
Multitank Britanni Tank 5,846 96 EUR 13.30 M Undisclosed en bloc
Multitank Badenia Tank 5,846 97 '' '' ''

Tasman Resolution Twee 23,853 88 USD 5.50 M China
Columbian Express Twee 20,479 86 USD 6.50 M China

Demolition
==========
Monica Sofia Bulk 6603/LDT 78 USD 300.00/ton India 'as is' Bilbao
Cape Ore Bulk 19748/LDT 81 USD 425.00/ton China
Maha Gayatri Bulk 6652/LDT 77 USD 437.50/ton China
Msc Mexico Cont 16485/LDT 78 USD 440.00/ton India
Athena I Cont 11529/LDT 80 USD 450.00/ton China
Coral Sea Reef 6416/LDT 76 USD 410.00/ton India
Mubaraka Tank 15236/LDT 68 USD 377.00/ton 'as is' Sharjah
Jag Palak Tank 7343/LDT 85 USD 450.00/ton 'as is' Sri Lanka
Athina Tank 3697/LDT 75 USD 270.00/ton Turkey
Stolt Integrity Tank 77 - India
Blue Lady Twee 6256/LDT 81 USD 440.00/ton Bangladesh

(All details given in good faith but without guarantee)

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