Frenzy in bulk carrier deals as Greek and Chinese owners vie for Newcastlemaxes
In recent days, the secondary market for large bulk carriers, including Newcastlemax and Capesize vessels, has witnessed a flurry of activity, with Greek and Chinese shipowners engaging in multiple transactions. The highlight of the week is the offering of four modern Newcastlemaxes for sale by South Korean shipping company Polaris Shipping, according to Naftemporiki.
The vessels in question, Solar Pride and Solar Quantum (each with a capacity of 209,471 dwt and built in 2020), along with Solar Nova and Solar Oak (each with a capacity of 208,892 dwt and built in 2021), are equipped with scrubbers. According to sources in the shipbroking sector, more than a dozen shipping companies have expressed interest in acquiring these ships.
While it's reported that at least two of the vessels have been acquired by Thenamaris, a company known for seeking quality tonnage in the secondhand market, the fate of the remaining two remains uncertain. Speculation suggests that the Chinese shipping company China Merchants Energy Shipping (CMES) or one of its subsidiaries may be involved in their acquisition.
The prices quoted for these vessels by freight brokers far exceed current market levels. According to reports from three shipping companies, including two Greek and one British, the vessels built in 2021 are priced at 66 million euros each, while those built in 2020 are valued at 65 million euros each. However, Norwegian Cleaves Securities has mentioned prices close to 60 million dollars.
The quoted prices have drawn attention due to their impressiveness, especially considering recent transactions. Just last month, Bocimar sold a vessel built in 2020 (from a reputed shipyard) for 54.25 million euros. This surge in interest and pricing is attributed to the growing demand for bulk carriers with eco-design features, built after 2015.
In particular, oversized bulkers such as Capesize and Newcastlemax vessels continue to attract significant buying interest, reflecting the ongoing dynamism in the maritime transportation sector.
