The volume of sale-and-purchase transactions has been on the rise, shipbroker Golden Destiny said this week.
The Greek outfit reported that the 111 ships that changed hands in August represents a 2% rise on the prior month and a 11% jump on the same period a year ago.
Containerships posted the biggest leaps, with the 16 sales representing a 33% jump on and a 300% increase compared to August 2019.
Here are some of the S&P deals that have surfaced so far this week. This article will be updated as the week progresses.
Marshall Shipping linked to ADS Crude tanker
United Arab Ermirates-based Marshal Shipping has been linked to a purchase of a VLCC from Oslo-listed ADS Crude Carriers.
Broker talk of the company's involvement comes after ADS reported last week that it had sold the 299,000-dwt tanker ADS Stratus (built 1992) for $25.5m. The shipowner declined to reveal the buyer at the time.
Marshal Shipping has been expanding its fleet over the last year. It is currently listed with a fleet of five vessels.
The company’s three tankers — a suezmax, an aframax and an MR tanker — are on average 17 years old.
ADS Crude Carriers was formed in 2018 when it purchased three vintage VLCCs, including ADS Stratus. The company paid a total of $67.5m for the trio, before installing scrubbers.
The ADS Stratus is set to be delivered to the new owner on or around 17 September, when the ship has completed its current spot voyage.
Wah Kwong offloads 12-year-old panamax
Wah Kwong Marine Transport Holdings has reportedly sold a 12-year-old panamax bulker.
US brokers said the Hong Kong-based shipowner has sold the 77,000-dwt Priscilla Venture (built 2008) for $11.4m.
That is within range of market expectations for the Oshima Shipbuilding-constructed ship. Separate estimates by VesselsValue and Maritime Strategies International put the ship as worth between $11m and $11.4m.
The vessel is due for special survey in March 2023.
Wah Kwong did not reply to requests for comment. The buyer in the transaction has not been disclosed.
The deal comes after the recent sale of a slightly newer panamax, the 82,000-dwt Lowlands Kamsar (built 2010), for $15m.
Led by chairwoman Sabrina Chao, Wah Kwong owns a fleet of 20 ships and aims to grow its managed fleet to some 50 vessels by the end of this year.
But the company has no plans to exit shipowning, TradeWinds is told.
Berge Bulk linked to more Japanese capesize buys
Berge Bulk's appetite for secondhand tonnage appears to be unsatisfied after it was linked to another capesize acquisition involving a vessel operated by Japan’s K Line.
US brokers reported the Singapore-based bulker owner has purchased the 177,000-dwt Cape Fushen (built 2008) has been purchased for a firm $14m.
That's within the wide range of market expectations. Separate estimates by VesselsValue and Maritime Strategies International estimates indicate the Shanghai Waigaoqiao Shipyard-built Cape Fushen is worth between $13.1m and $17.2m.
KPMG places Xihe Holdings tanker trio on sales block
Three tankers belonging to affiliates of Ocean Tankers-linked Xihe Holdings have been placed on the sales block by recently appointed receiver KPMG.
The vessels are the 16,600-dwt chemical tankers Ocean Success and Ocean Supreme (both built 2012) and the 1,000-dwt bunker tanker Marine Topaz (built 2015).
They are owned by An Ya Shipping, An Xing Shipping and Xin Guang Shipping, respectively, which are three special-purpose vehicles under Xihe Holdings.
George Gialozoglou companies dump string of crude tankers
Management companies linked to George Gialozoglou have offloaded four ageing tankers in the span of just a few weeks, according to information compiled from various broker reports.
The sales — both demolition deals and secondhand transactions for further trading — can be interpreted as normal fleet-renewal moves by the Greek shipowner's companies.
Viewed from a different angle, however, they allow the Greek owner to cut ties with vessels that got in the cross hairs of authorities in both the US and Iran.
Polembros swoops on bulker redelivered by Pacific Carriers
Polembros Bulkers has acquired a nine-year-old bulker to increase its exposure in the post-panamax arena.
The company’s general manager, George Vakirtzis, confirmed the purchase of the 95,700-dwt Double Paradise (built 2011). The ship is believed to have changed hands for $16.2m.
Polembros Shipping set up Polembros Bulkers as a stand-alone dry bulk arm two years ago with a view to gradually expand in post-panamaxes.
Eagle Bulk continues fleet renewal
New York-listed Eagle Bulk Shipping has sold one older supramax and circulated two more for sale as it continues the process of overhauling its fleet.
The bulker owner has sold the 53,400-dwt Skua (built 2003) for $5.4m to unidentified Chinese interests, according to market sources.
Stamford-based Eagle Bulk also has placed two similar vessels — the 53,300-dwt Shrike (built 2003) and 50,200-dwt Osprey 1 (built 2002) — on the sales block, continuing a plan to sell older tonnage as bulkers approach dry-docking dates, sources said.
Avin International offloads duo to Russians
Avin International becomes the latest traditional Greek company to offload some of its oldest crude carriers, selling a pair of suezmaxes at firm-looking prices.
Shipping sources in Athens said Avin's 160,000-dwt Kriti Sfakia and Kriti Spirit (both built 2000) went to unidentified Russian buyers in an en-bloc deal for nearly $28.8m in total.
This is not that far below the nearly $35m spent by the Vardinoyiannis family to buy the duo on the secondhand market about six years ago.
Xihe Holdings launches sale effort for seven Ocean Tankers-linked ships
The judicial manager of Xihe Holdings has launched the sales of seven vessels linked to the family of Lim Oon Kuin, founder of collapsed oil trader Hin Leong Trading and affiliated shipping firm Ocean Tankers.
The step by Grant Thornton is expected to help the Singaporean magnate’s creditors recover debts, but will add downward pressure on secondhand tanker prices amid weak rate environments.
Sources with knowledge of the matter told TradeWinds the accounting firm has appointed Clarksons and Arrow Shipbroking as exclusive brokers for three VLCCs: the 318,000-dwt Tai San (built 2009) and Tai Hung San (built 2010) and 319,000-dwt Pu Tuo San (built 2011).
Four product tankers — the 37,300-dwt Ocean Victory (built 2002), 50,100-dwt Bei Jiang (built 2009), 109,000-dwt Ocean Trader (built 2008) and Ocean Pegasus (built 2009) — are also on the sales block.
