Tanker buyers concentrated on large crude tonnage while dry bulk business centred on modern Kamsarmax units and en bloc disposals, and recycling levels on the subcontinent edged higher.
The week’s largest crude fixture was the ATHERINA, a 2011-built VLCC from Hyundai, which sold to Sinokor at USD 146 million. A second block of crude tonnage moved en bloc, with the 2011-built VLCC sisters OLYMPIC TARGET and OLYMPIC LIGHT changing hands for USD 300 million in total. Mid-sized crude tonnage was active as well. The TP AFFINITY, a 2016-built 114,070 dwt Aframax from Hyundai Samho, sold to Turkish buyers at USD 73 million, and the NORDIC FREEDOM, a 2005-built 159,331 dwt Suezmax from Daewoo, achieved USD 65 million.
Product and gas tonnage supplied most of the remaining volume. The EUROINTEGRITY, a 2009-built 105,291 dwt LR2, sold at USD 60 million and the UNITED VENTURE, a 2010-built 105,304 dwt unit from Sumitomo, at USD 49.4 million. The PUFFIN PACIFIC, a 2020-built 49,904 dwt product tanker from STX, reached USD 49 million, while older 50,000 dwt units traded lower, with the SEA RUNNER at USD 20.5 million to Greek buyers and the VIRGEN DEL CISNE at USD 25.5 million. The VISHVAKARMAA, a 2009-built 80,793 cbm gas carrier from Hyundai, sold at USD 74 million.
Newbuilding activity in the segment was modest. Akrotiri Tankers ordered a 157,000 dwt Suezmax at New Times Shipyard at USD 84.4 million, bringing its total order to two, and Shenghang Shipping contracted six 13,500 dwt tankers at CMI Nanjing at USD 24 million each.
Values on the older end of the crude curve continued to firm. The VLCC ten-year price stood at USD 137.83 million, the Suezmax at USD 92.5 million and the Aframax at USD 74 million.
Modern Kamsarmax tonnage set the pace. The GCL HAZIRA, a 2021-built 81,986 dwt unit from NACKS, sold to European buyers at USD 38 million, and her 2021-built 81,984 dwt counterpart NEW WAVELET reached USD 42 million. The BABITONGA, a 2019-built 81,770 dwt unit from Tsuneishi, sold to Sincere Navigation at USD 38.5 million. One newbuilding resale also appeared, the JIANGSU HAITONG JSHT 297, a 2026-built 63,500 dwt Ultramax, at USD 39 million.
Older Panamax and Supramax tonnage traded at a wide spread. The 2013-built sisters RTM DIAS and RTM FLINDERS, 89,892 dwt units from Namura, sold en bloc to Chinese buyers at USD 42.8 million in total. The 2004-built pair NEW LIULINHAI and PLACID SEA sold at USD 10 million each. The GENEVA STAR, a 2009-built 75,843 dwt unit, went to Greek buyers at USD 17 million, and the LC MILADY, a 2011-built 93,758 dwt unit, sold to Chinese buyers at USD 14 million.
Handysize business was steady. The CELESTE, a 2012-built 34,295 dwt unit, sold to Greek buyers at USD 11.2 million, the CS CALLA, a 2011-built 37,482 dwt unit, at USD 11 million, and the PROPEL PROGRESS, a 1997-built 30,848 dwt unit, at USD 4.2 million.
Newbuilding contracts favoured the mid-sized bulk sizes. DAB Group placed two 64,500 dwt bulk carriers at Jiangsu Soho, and Jinhui Shipping ordered two units of the same size at JNS at USD 36 million each.
Ten-year values held steady across the size range, with the Capesize at USD 57.5 million, the Panamax at USD 32.5 million and the Supramax at USD 29.53 million.
Recycling business was thin and prices held near their recent highs. The JAMES II, a 2002-built tanker of 149,995 dwt and 22,560 LDT, went to India at USD 507 per LDT, and the reefer NEPT, a 1988-built unit of 3,040 LDT, sold into Bangladesh at USD 475 per LDT.
Levels across the subcontinent moved a little higher. Pakistan bid USD 518.18 per LDT for tankers and USD 502.48 for bulk carriers, Bangladesh USD 517.12 and USD 497.28, and India USD 480.42 and USD 464.22. Turkey stayed well below the subcontinent at USD 308 for tankers and USD 296.5 for bulk carriers, a gap of more than USD 190 per LDT to the leading yards.
