Second hand ships purchases from Hellenic ship owners have risen by 50% since September when container ships came to the spotlight. According to a report from ship broker Golden Destiny, during October alone 30 vessels were reportedly purchased from ship owners from Hellas, with bulk carriers and container holding 70% of the total volume of their acquisitions. During October, Chinese owners’ share in the secondhand market has tapered off, holding around 9.3% of the total volume of secondhand transactions versus 21.4% of Greek investors.
From the beginning of the year till the end of October, Greek owners have purchased 205 vessels equaling a total invested capital around $5.2 bn, while Chinese owners have bought 148 vessels equaling a total invested capital around $2.5 bn. “It seems high unlikely Chinese owners to outpace Greek buyer’s strength in the secondhand market till the end of the year, as a lot of Far East buyers seem to keep their appetite for 2011 expecting new asset lows in the bulk carrier sector.
In the newbuilding business, Greek owners appear less competitive than in the secondhand market holding around 9% of the total volume of units reported on order. However, Greek owner’s investment plans have been raised by 18% since previous month’s activity, due to a significant rise of 167% in the container sector with Greek owners placing orders in post panamax and small panamax segments. Its remains to be seen, if the Greek owners’ purchase
interest for newbuilt containers will continue through the last quarter of the year, whereas their secondhand activity has been resumed at firmer levels in the bulk carrier sector with ongoing interest for the purchase of secondhand container units” said Golden Destiny.
According to the shipbroker October witnessed strong levels of S&P activity almost in all sectors with Greek buyers retaining their competitiveness in the secondhand market versus Chinese. In total, 140 vessels reported to have changed hands equaling a total invested capital region $2,3 billion, signaling a monthly increase of 46%. Bulk carriers bounced back their firmness, as 40.7% of the total volume of secondhand transactions is reported in the bulk carrier sector, while tankers appear appealing assets for investment.
Commenting on the dry bulk market, it said that in the newbuilding market, bulk carriers uphold their lion share as 53% of the total volume of newbuilding transactions is reported in the bulk carrier sector. In total, 76 units reported to have been ordered by Greek and foreign buyers equaling a total deadweight ordered of region 6,7 million tons. October proved to be one more month with brisk business in the already overbooked bulk carrier sector, posting a monthly rise of 4%. A new report from BIMCO on October raised new alarming figures in terms of the continuous threat of oversupply in the dry bulk market, as a result of the high pace of newbuilding orders. According to BIMCO figures, the active fleet has grown by 11.6% so far in 2010, driven by the 55 million dwt that has been delivered year to date. By the middle of July, the amount of new tonnage delivered in 2010 surpassed the 2009 record level of 43.5 million of deadweight.
On the other hand, the demolition activity in the sector is still at low not comforting levels for the industry, even the 200% rise in the number of units reported to have been headed in the scrap yards throughout October. In total, 15 bulk carriers reported for scrap equaling a total deadweight of around 815,000 tons, a record high number of activity since the beginning of the year. However, during the period January – October 2010, 85 vessels reported to have sent to the scrap yards equaling a total deadweight around 4,2 million tons, a figure which is quite low considering the excessive tonnage ordered since the beginning of the year and the pending deliveries for 2011. During a similar period of 2009, the figures were far more encouraging for the industry as 185 vessels were scrapped equaling a total deadweight of around 7,8 million of tons.
In the period charter market, the fixture activity has been subdued since August 2008, signaling a drop of 46.3% as 74 vessels reported to have been fixed within October with newbuilt and modern capesizes being the most popular candidates by the charterers, while on August the total number of fixtures estimated to be 138 vessels. The regular fixture period is up to 12 months as the dry market is recently on the slide and charterers prefer not to be committed to longer charter agreements.
As for the container sector, the S&P activity is being dominated by Greek owners who hold 75% of the total volume of containers reported to have changed hands within October. Additionally, 42% of the total number of units reported on order in the container sector has been placed by Greek investors. In total, 12 containers reported to have changed hands equaling a total invested capital region $246,000,000, indicating a monthly drop of 33%. However, containers appear to be popular purchase candidates with attractive investment opportunities also in the newbuilding business.
During October 2010, 19 units reported on order equaling a total deadweight of around 2 million of tons, whereas the demolition activity is standing at virtual standstill with only 2 units reported for scrap equaling a total deadweight of 54,870 tons. During January to October 2010, only 65 containers reported to have been headed to the scrap yards equaling a total deadweight of around 1,7 millions tons, down by 57% comparable with a similar period within 2009 when 151 vessels reported for scrap equaling a total deadweight of around 4,5 million tons.
From the beginning of the year till the end of October, Greek owners have purchased 205 vessels equaling a total invested capital around $5.2 bn, while Chinese owners have bought 148 vessels equaling a total invested capital around $2.5 bn. “It seems high unlikely Chinese owners to outpace Greek buyer’s strength in the secondhand market till the end of the year, as a lot of Far East buyers seem to keep their appetite for 2011 expecting new asset lows in the bulk carrier sector.
In the newbuilding business, Greek owners appear less competitive than in the secondhand market holding around 9% of the total volume of units reported on order. However, Greek owner’s investment plans have been raised by 18% since previous month’s activity, due to a significant rise of 167% in the container sector with Greek owners placing orders in post panamax and small panamax segments. Its remains to be seen, if the Greek owners’ purchase
interest for newbuilt containers will continue through the last quarter of the year, whereas their secondhand activity has been resumed at firmer levels in the bulk carrier sector with ongoing interest for the purchase of secondhand container units” said Golden Destiny.
According to the shipbroker October witnessed strong levels of S&P activity almost in all sectors with Greek buyers retaining their competitiveness in the secondhand market versus Chinese. In total, 140 vessels reported to have changed hands equaling a total invested capital region $2,3 billion, signaling a monthly increase of 46%. Bulk carriers bounced back their firmness, as 40.7% of the total volume of secondhand transactions is reported in the bulk carrier sector, while tankers appear appealing assets for investment.
Commenting on the dry bulk market, it said that in the newbuilding market, bulk carriers uphold their lion share as 53% of the total volume of newbuilding transactions is reported in the bulk carrier sector. In total, 76 units reported to have been ordered by Greek and foreign buyers equaling a total deadweight ordered of region 6,7 million tons. October proved to be one more month with brisk business in the already overbooked bulk carrier sector, posting a monthly rise of 4%. A new report from BIMCO on October raised new alarming figures in terms of the continuous threat of oversupply in the dry bulk market, as a result of the high pace of newbuilding orders. According to BIMCO figures, the active fleet has grown by 11.6% so far in 2010, driven by the 55 million dwt that has been delivered year to date. By the middle of July, the amount of new tonnage delivered in 2010 surpassed the 2009 record level of 43.5 million of deadweight.
On the other hand, the demolition activity in the sector is still at low not comforting levels for the industry, even the 200% rise in the number of units reported to have been headed in the scrap yards throughout October. In total, 15 bulk carriers reported for scrap equaling a total deadweight of around 815,000 tons, a record high number of activity since the beginning of the year. However, during the period January – October 2010, 85 vessels reported to have sent to the scrap yards equaling a total deadweight around 4,2 million tons, a figure which is quite low considering the excessive tonnage ordered since the beginning of the year and the pending deliveries for 2011. During a similar period of 2009, the figures were far more encouraging for the industry as 185 vessels were scrapped equaling a total deadweight of around 7,8 million of tons.
In the period charter market, the fixture activity has been subdued since August 2008, signaling a drop of 46.3% as 74 vessels reported to have been fixed within October with newbuilt and modern capesizes being the most popular candidates by the charterers, while on August the total number of fixtures estimated to be 138 vessels. The regular fixture period is up to 12 months as the dry market is recently on the slide and charterers prefer not to be committed to longer charter agreements.
As for the container sector, the S&P activity is being dominated by Greek owners who hold 75% of the total volume of containers reported to have changed hands within October. Additionally, 42% of the total number of units reported on order in the container sector has been placed by Greek investors. In total, 12 containers reported to have changed hands equaling a total invested capital region $246,000,000, indicating a monthly drop of 33%. However, containers appear to be popular purchase candidates with attractive investment opportunities also in the newbuilding business.
During October 2010, 19 units reported on order equaling a total deadweight of around 2 million of tons, whereas the demolition activity is standing at virtual standstill with only 2 units reported for scrap equaling a total deadweight of 54,870 tons. During January to October 2010, only 65 containers reported to have been headed to the scrap yards equaling a total deadweight of around 1,7 millions tons, down by 57% comparable with a similar period within 2009 when 151 vessels reported for scrap equaling a total deadweight of around 4,5 million tons.