Monday, January 10, 2011

Sale and Purchase Market Report for the Week Ending 07.01.2011

After the end of year holidays the activity in the Sale and Purchase market
has been weak and the demand has been mainly driven by Chinese Buyers
investing in older bulk carriers and Indonesians targeting single hull MR's
backed by longterm charters to Pertamina. In the container sector
interestingly the 2003 Japanese built 'OOCL Xiamen' (2754 TEU) has been
commited for a low Usd 26,6 m to Greek Buyers.

In the newbuilding sector two 1,040 teu containerships have been ordered at
the Dae Sun Shipyard for a total of Usd 39 m with deliveries September and
December 2013.

Demolition prices remain firm and in combination with the falling dry market
it starts to be an interesting alternative for Owners with older tonnage.
The tweendecker 'Szczecin' (7140 LDT) managed to get a price of Usd 500 per
LDT basis delivery India !

Name Type Dwt Blt Price Buyer
Five Stars Union Pmax 64,135 82 USD 6.20 M China
Sun Pmax 63,261 83 USD 6.00 M China
Jorita Hndy 36,663 85 USD 8.50 M Middle East
(incl. tc attached until 9/2011 at Usd 15200/d)
El Condor Pasa Hndy 33,200 01 USD 21.80 M Turkey

OOCL Xiamen 2754teu 41,000 03 USD 26.60 M Greece
Eurus Oslo 2097teu 34,380 89 USD 5.70 M Undiscl.(conversion)
Eurus Ottawa 2097teu 34,380 89 USD 5.70 M Undiscl.(conversion)
Merkur Lake 1012teu 12,576 94 USD 7.50 M Asia
FGM Istanbul 269teu 4,050 80 USD 1.00 M Turkey

Superferry II Roro 1,029 74 USD 6.10 M Greece

Grand Sea Vlcc 310,000 08 USD 100.0 M Hong Kong
Sunrise Jewel Vlcc 302,440 92 USD 36.00 M Undiscl.(conversion)
Front Shanghai Vlcc 298,500 06 USD 92.00 M Undisclosed
Formosaproduct Alp Tank 70,314 04 USD 32.00 M Undisclosed
Isola Verde Tank 36,457 94 USD 10.50 M Indonesia
Formosa Four Tank 35,672 91 USD 6.50 M Indonesia
Tjore Eliezer Tank 9,220 07 USD 5.70 M Norway

Noren Twee 6,154 84 USD 1.30 M Syria
Sommen Twee 6,150 83 USD 1.30 M Syria

Frotamerica Bulk 9103/LDT 79 USD 162.00/ton 'as is' Rio de Janiero
Horizon 1 Bulk 80 USD 485.00/ton India
Sea Daisy Bulk 11210/LDT 78 USD 495.00/ton India
Tinos Warrior Bulk 28008/LDT 82 USD 480.00/ton China (800t bunkers
Mamaluca Bulk 76 - Pakistan
Yong Ping Comb 15986/LDT 81 USD 455.00/ton China(with extra
for 70 pct of 500t bunkers
Msc Freedom Cont 80 USD 440.00/ton India
Spring Tiger Reef 7206/LDT 84 USD 462.00/ton India
Caribbean Pearl Tank 3406/LDT 83 USD 300.00/ton Turkey
Sfakia Tank 31340/LDT 86 USD 502.00/ton Bangladesh
Sabine Tank 13699/LDT 88 USD 487.00/ton 'as is' Spore
Subedar Joginder Tank 13369/LDT 84 USD 460.00/ton 'as is' Kakinada
Barsehe Twee 79 USD 315.00/ton Turkey
Szczecin Twee 7140/LDT 87 USD 500.00/ton India
Delphin Twee 4410/LDT 78 USD 485.00/ton India
Ks Cosmos Twee 7823/LDT 78 USD 475.00/ton India
Flora S Twee 6113/LDT 80 USD 468.00/ton India

(All details given in good faith but without guarantee by VOGT MCGUIRE.)

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