Two Hong Kong-based shipowners are in the process of selling off bulkers ahead of upcoming dry-dockings and special surveys as sale-and-purchase activity in the lower size ranks remains busy.
Taylor Maritime has sold its 28,200-dwt bulker Lovely Klara (built 2002) to Vietnam’s Opec Petrol Transportation Co for a price reported to be in the low $4m range.
The Mitsubishi Heavy Industries-built ship was recently taken in by Opec and renamed Golden Leaf. TradeWinds understands the ship — due for dry-docking this month — is en route to Vietnam.
The IHS Ships Register indicates that Opec’s fleet is primarily focused on its handful of small LPG carriers. It branched out into bulkers in December last year when it acquired the 28,500-dwt Hawke Bay (built 2001) from Pacific Basin. The handysize has been renamed Golden Key.
While Opec could not be reached for comment, the company is widely linked to state-owned PetroVietnam’s shipping arm, Nhat Viet Transportation. That company operates a fleet of around 30 small LPG carriers, as well as handysize to supramax bulkers.
This large fleet is split between directly owned vessels flying the Vietnamese flag and foreign-flagged ships that are owned by subsidiary or affiliated outfits, one of which is said to be Opec.
Another Hong-Kong based dry bulk company, Asia Maritime Pacific (AMP), was reported this week to be in the process of selling two handysize bulkers.
Brokers said the company was tying up a deal to sell the 35,200-dwt bulkers Asia Pearl III and Asia Pearl IV (both built 2010).
The Nantong Changqingsha Shipyard-built pair are said to be on subjects to a Greek buyer, with a price of $5.2m per ship mentioned. Both are due for their second special surveys in July.
AMP did not respond to TradeWinds’ emailed requests for comment.
The deals emerge as pressure on pricing continues in the smaller bulker segments.
The Baltic Exchange assessment for a five-year-old handysize bulker has slumped to $15.4m this week from just over $16m in early April, when the market data provider launched its S&P index for the size class.
The assessment for a secondhand supramax of the same age has dropped 8.7% since the end of last year, making them now worth just under $15.5m.
In that segment, brokers said Maritime Enterprises of Greece has obtained just $4.8m from the sale of the Yangzhou Dayang Shipbuilding-constructed, 53,000-dwt supramax bulker Taurus Two (built 2006).
The price reported for the Taurus Two — due for special survey in August next year — is well below the $6.86m estimate by VesselsValue for a ship with its characteristics.
Meadway Shipping’s 53,600-dwt Matumba (built 2005) is said to have gone to a Chinese buyer for $6.2m — a price in line with that of VesselsValue.
While Germany’s Conti Group has sold the Chinese-built, 56,000-dwt Amazonit (built 2011) for $7.25m.
Conti did not respond to requests for comment.
Eric Martin contributed to this story
