• 2024 June 14 13:18

    Bulk carriers second-hand market overperforms

    The second best performance of all time in a five-month period was recorded this year in the second-hand market of bulk carriers.

    According to freight brokerage Intermodal, between January and May 2024, purchase and sale agreements were signed for 366 dry bulk vessels, 87 more than last year, Naftemporiki reports.

    The only year in which there were more deals was 2021, when a total of 403 ships changed hands.

    As Yiannis Parganas, head of Intermodal’s Research Department, stated to “Naftemporiki”, these remarkable levels are largely due to the convergence between buyers who observe positive developments in fares and especially those of the large market sizes, such as capesize, and sellers who are ready to capitalize on high market values.

    At the same time, he added, the secondary market is the main outlet for shipowners with bulkers who want to renew their fleets, because they continue to avoid shipbuilding.

    It is noted that five fewer ships were placed on order this year compared to last year.

    At the top of shipowners’ preferences were ultramaxes – supramaxes with 130 recorded sales, followed by handysize bulkers with deals for 93 ships.

    Strong interest was also recorded in the large market sizes, capesize bulkers, with Intermodal recording 67 deals. This, according to freight brokers, was the highest performance at the first five-month level since the 51 sales deals completed last year.

    Finally, Intermodal identified the purchase and sale of 58 panamaxes – kamsarmaxes and 18 post panamaxes.

    Greek shipowners are the top buyers of used bulk carriers in the last 12 months.
    Small and large companies have developed intense activity in the market, seeking attractive deals, despite the rise in prices.
    Brave Maritime concluded another deal, adding the supramax “Supra Baron” (capacity 55,651 dwt and built in 2009) to its fleet in the last few days. This is the former ‘Super Bergkamp’, which was recently reported by freight brokers to have sold for $15.5 million.
    Cosmoship was strengthened with the handysize “Carla C” (capacity 37,489 dwt and built in 2015).

    According to recent brokerage reports, the former ‘Carlota Bolten’ has recently changed hands, with a price close to $19 million.
    The modern ultramax “Filosofia SB” (capacity 60,935 dwt and built 2015) was acquired by Nomikos Shipping Investments Limited.

    The shipping company stated in an announcement that the ship is equipped with advanced technologies ensuring excellent performance and safety.

    The former “Darya Padma” was reportedly sold for a price between $27-29 million, according to various brokerage houses. Finally, the supramax “Eagle Trader” (capacity 57,981 dwt and built in 2013) entered the fleet of Load Line Marine. Several freight brokers reported some time ago that the vessel – then named ‘Thetis’ – was sold for $17.5 million.

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