Low pricing levels for supramax bulk carriers are prompting renewed buying interest from Indonesian owners, although equally interested buyers from China and Greece could give them a run for their money.
S&P brokers reported that the Samudera Indonesia Group was eyeing the 56,800-dwt bulker Christos Theo (built 2010).
The Evripos Shipmanagement-controlled vessel is worth between $7.8m and $8.3m, according to separate estimates from Maritime Strategies International and VesselsValue.
As of Thursday, it is unclear whether a sale deal has been concluded.
Samudera executives could not be reached for comment and the ships’s technical manager, to whom TradeWinds was referred, did not immediately respond to emails.
Asia-based brokers said that they are getting enquiries for supramax tonnage from several other Indonesian dry bulk players that are active in the Indonesian domestic coal trades.
Handymax and supramax vessels are used to carry coal from mines in East Kalimantan to power stations that are scattered throughout the vast Indonesian archipelago.
The type is considered the ideal size for that market.
'Good value'
Market sources said with supramax asset values being at their lowest levels in more than two years, these Indonesian players are keen to refresh their ageing fleets with younger tonnage and view current prices as offering “good value for money”.
However, these prices are also leading to strong buying interest in Greek and Chinese players, with buyers from both countries were responsible for at least two supramax sales deals reported this week.
As yet undisclosed Greek buyers have bought Orion Bulkers’ 57,000-dwt bulker Watford (built 2010) for $8.9m, shipbrokers said this week. The Cosco Dalian-built ship was put through its special survey in January.
Chinese buyers, again undisclosed, were reported by TradeWinds on Monday to have picked up Eagle Bulk’s 53,400-dwt Skua (built 2003) for $5.4m.
Brokers reported that interest in supramaxes is relatively strong, with one source reporting that eight potential buyers vying for one vessels. But they said interest has yet to push prices upwards as buyers are unwilling to pay higher than current market levels.
