Giant Chinese state owner Cosco Shipping Bulk has completed seven supramax sales this year with an en-bloc deal that shows strong domestic demand for the ship type.
Brokers said that after inviting bids last week, the quintet of 2011 and 2013-built vessels had gone to unnamed Chinese interests.
The Chinese-built, 56,600-dwt Wu Gui Shan, Shou Chen Shan, Yi Long Shan and Fu Quan Shan (all built 2013) fetched over $15m each.
The 2011-built sister ship Tai Ping Shan was said to have gone for more than $13m to the same buyer.
This totals about $73m.
The deals are below valuations placed on the bulkers by VesselsValue, which prices the 2013 vessels at around $17.6m and the older ship at $15.5m.
These values have changed little over the last year.
The prices are not much above that reportedly achieved by Greece’s Thenamaris for an older supramax in early April.
The 55,400-dwt bulker Seaboss (built 2004) went to undisclosed Vietnamese interests for $11.7m on a prompt delivery basis to a shipowning entity connected to Shanghai-based Forecastle Shipping.
Cosco Bulk has been contacted for comment.
The owner has 52 other supramaxes dating from 2003 in its vast dry cargo fleet.
The 2013-built quartet are its youngest such vessels, while four more were constructed in 2012 and four others in 2011.
Two other supramaxes sold
Cosco Bulk sold two 2010-built ships in January and March.
The 57,000-dwt Pu Lan Hai went to unknown Chinese interests for $12.2m, and two months later the owner achieved $13.75m for the 57,000-dwt Chang Shan Hai, with the buyer undisclosed.
UK shipbroker Clarksons noted further strong bulk carrier sale-and-purchase activity over the last week.
The London shop said 301 bulkers of 23.1m dwt have now been sold this year.
The run rate so far in 2024 is above 2021’s record high, it added. That year ended with 60.9m dwt of vessels changing hands.
