[vc_row][vc_column][vc_column_text]
Even excluding major newbuilding deals, the market seems to be strengthening over the past couple of months, something evidenced even by the growing numbers which are being report from S. Korean shipyards lately. In its latest weekly report, shipbroker Allied Shipbroking said that “we still seem to have a market mainly driven by major deals, with this week, information emerging regarding Trafigura’s large 
tanker order as part of a leasing deal with China’s Bank of Communications Financial Leasing. Overall however and even when one excludes these large enbloc deals, activity has been strengthening somewhat over the past couple of weeks. We are still seeing evidence of this on the pricing front as well, with quoted prices seemingly on the rise as demand starts to gain further traction. There is still a considerable amount of uncertainty overshowdowing all of the main shiptype freight markets, which does in turn keep things under check. However with asset prices having shown an improvement and with China’s financial houses making a more prominent push into the shipping finance market, we are likely to see the ordering spell improve even further in the second half of 2017”. In a separate newbuilding report this week, Clarkson Platou Hellas noted that “there are two new orders in Dry to report this week. Hyundai Heavy Industries (HHI) have signed a contract for three firm 325,000 DWT VLOCs with Polaris Shipping in Korea for delivery in 2019. From China, CIC Jiangsu have received an order from Tomini Shipping for three firm 64,000 DWT Ultramax Carriers. The trio will deliver throughout 2019 and 2020. In other sectors, it came to light this week that Fujian Mawei Shipbuilding have signed a contract for one firm plus one optional 7,499 DWT Asphalt Carrier with domestic owner Xin Yuan Group. The firm vessel is set for delivery within 2018 from China. Finally, British Columbia Ferries have announced an order for two firm approx. 2,000 GT Passenger / Car Ferries at Damen. These vessels will be able to carry around 300 passengers and 44 vehicles and will be delivered in 2020 from Damen’s Galati facility in Romania”, concluded the shipbroker. Meanwhile, in the S&P Market, Allied said that “on the dry bulk side, things are still moving at a slow pace, with this week again characterized by a relatively low number of transactions coming to light. This slower activity has also been heavily reflected in in asset prices, where we have seen a temporary plateau which looks as though it could hold for at least a couple of weeks. The main change will be a firming in the freight market, with any quick revival in rates likely to quickly bolster buying interest once more and through a bit more speculation in the mix. On the tanker side, there was considerable movement to be noted in the Suezmax segment this past week, with a number of units changing hand while also showing a slight revival in price levels. Overall it looks as though buying interest is slowly starting to return in this sector and that over the summer period may well have an increase in activity in stall for us”. Similarly, ship valuations’ specialist VesselsValue said that bulker values have generally softened slightly. The Post Panamax BC Ten Jo Maru (98,700 DWT, Dec 2011, Tsuneishi Zhoushan) sold to U Ming Marine Transport for USD 19 mil. The Supramax BW Indigo (56,100 DWT, Apr 2011, Mitsui Ichihara) sold for USD 15.1 mil vs VV USD 16.15 mil softening values. “Tanker values have remained stable this week. The VLCC DS Commander (311,200 DWT, Jul 1999, Hyundai HI) sold for USD 16.5 mil vs VV USD 16.25 mil. Two Suezmaxes Hulls 852 and 853 (160,000 DWT, Jun/Jul 2017, Hyundai Samho HI) were resold en bloc for USD 115 mil to Delta Tankers. The LR2 Ruby Express (106,500 DWT, Sept 2004, Tadotsu Tsuneishi) sold for USD 12.3 mil vs VV USD 12.35 million”, concluded VV.
[/vc_column_text][/vc_column][/vc_row]
