The sale and purchase market is active across the bulker and tanker space, but on both fronts the pricing environment has not been as positive.
Tanker prices nudged downward. The Baltic Sale and Purchase Assessment for a five-year-old VLCC dipped to $66.2m on Friday, a $1.05m slip from a week earlier.
Bulker prices continued to show signs that the rebound since early summer has come to an end.
The Baltic assessment for capesize vessels dipped by $230,000 to $31.8m, while other dry bulk size classes remained steady.
Here are some of the S&P deals that have emerged in recent days:
Celsius sells pair of ultramaxes to Oman Shipping
Denmark’s Celsius Shipping has sold a pair of Chinese-built ultramax bulkers as it continues an active run in the S&P market.
Brokers said Oman Shipping purchased the GH Citation and GH Black Caviar for $17m each.
That's about what Celsius paid for the in a resale deal in 2016 when the vessels were under construction at CSSC Guangzhou Huangpu Shipbuilding.
Last year, Celsius fetched a similar price when it offloaded the 63,000-dwt GH Habit and GH Frankel (both built 2012) to Grieg Maas for $16.9m each.
Oman Shipping could not be immediately reached for comment on this story.
Celsius is a diversified shipowner with 47 bulkers, tankers and containerships on the water.
The Bayside Capital and Breakwater Capital-backed company also has four LNG carrier newbuildings on order at Samsung Heavy Industries for delivery this year and next.
The latest Celsius ultramax sales come amid a busy time for the ultramax S&P market.
Brokers said Nautical Bulk has sold the Chinese-built, 63,000-dwt Nautical Georgia (built 2017to an undisclosed buyer for $17m.
Greek shipowner Eastern Mediterranean Maritime (Eastmed) has been linked to the purchase of Scorpio Bulkers’ 60,000-dwt SBI Zeus (built 2016).
TradeWinds reported earlier that the New York-listed shipowner had sold the Mitsui E&S Shipbuilding-constructed vessel, but its buyer was not revealed.
Eastmed, which is reportedly paying $18.5m, declined to comment for this story.
Minerva continues clear-out of older tankers with aframax sale
Minerva Marine has disposed of another 17-year-old aframax at a better-than-expected price.
The sale comes as the Andreas Martinos-controlled tanker and bulker owner continues to clear out older vessels from its fleet.
European brokers said the Greek company has sold the 107,000-dwt Minerva Emma (built 2003) to an undisclosed buyer for $13m.
Minerva could not be reached for comment, and the company rarely gives statements on its commercial activities.
A sale of the should be seen as a renewal of the fleet for the Greek owner, which who in September reportedly sold the Namura-built 105,000-dwt tanker Minerva Concert (built 2003) to an undisclosed buyer. That ship also fetched $13m.
Both tankers are due for special survey in 2023.
The price tag for the Minerva Emma is somewhat better than expected.
VesselsValue says the ship is worth just $10.5m, while Maritime Strategies International (MSI) believes it's worth $11.7m.
Minerva bought the tanker from Shoei Kisen for $32m in December 2010.
As of Last month, Minerva had 70 trading ships, of which 62 are tankers.
In September, the company also sold the 105,000-dwt Minerva Zenia and Minerva Maya (both built 2002) for around $12m each.
The latter has gone to Nhat Viet Transportation and has been renamed Pearl 1.
Minerva also sold two vintage aframaxes in June.
Minerva Marine is awaiting two aframax newbuildings from Daehan Shipbuilding next year.
Last month, the Greek owner also sold a VLCC, the 309,000-dwt Pantariste (built 2002). to F Gas Petrol Co of Vietnam reportedly for $23.5m.
Splosna Plovba down to one vessel after reported sale of last bulker
Peter Dohle-controlled shipowner Splosna Plovba has reportedly sold its last bulker.
Brokers said the company has sold the 55,000-dwt Cas Amares (built 2011) to an undisclosed buyer for $8.8m.
Splosna declined to comment on reports of the sale.
The Hyundai Vietnam Shipyard-built Cas Amares is due for for special survey next May.
Last month, brokers reported that Splosna Plovba sold a slightly older sistership, the Cas Avanca (built 2009), to an Indonesian buyer for $7.5m.
The Cas Amares becomes the fifth supramax that the Slovenian owner has sold this year.
The price for the supramax is slightly below expectations. VesselsValue says the vessel is worth $10m, while MSI estimates a $9.5m price tag.
Peter Dohle is primarily a containership owner, operating about 300 ships. It also owns and operates 40 bulkers and 25 multipurpose ships.
The Hamburg-based shipowner increased its stake in Splosna in 2007 to gain majority control. At that time, the Slovenian company had a fleet of around 20 ships.
If the sale of Cas Amares is finalised, the company will be left with one vessel, the 4,043-teu containership Pohorje (built 2006).
Byzantine Maritime purchases first vessel in four years
Greek bulker owner Byzantine Maritime has purchased its first vessel in four years.
Borkers said the company has purchased the Sato Steamship-controlled, 58,000-dwt bulker Orient Grace (built 2012).
The sources said the outfit acquired the he KHI-built bulker for $12.3m.
That comes in below expectations. VesselsValue says the Orient Grace is worth $13.1m, while MSI puts the ship's value at $13.7m.
The vessel was dry docked for its special survey in June.
Byzantine is listed with 11 vessels, all supramaxes built in Japan that are on average nine years old.
Byzantine last made a purchase in the S&P market in May 2016, when it bought the 82,000-dwt Maverick Guardian (built 2012) on auction for just under $15m. The company then sold the vessel in a profitable asset play. In May 2019, the outfit sold the bulker on to compatriot owner Hydroussa Navigation for $19m.
In March this year, brokers said that Byzantine had sold the 56,000-dwt bulker Yvonne (built 2008) for $9m to a Vietnamese buyer, but the reports turned out to be inaccurate.
Byzantine Maritime is controlled by Mario Stafilopatis.
