Product tanker and gas carrier sales carried the week, dry bulk activity concentrated on older Supramax and Kamsarmax tonnage, and recycling levels on the subcontinent eased slightly while Bangladesh moved to the top of the table.
The modern LR2 sector produced the week’s clearest pricing. The STI VENETO, a 2015-built 109,999 dwt unit from Hyundai Samho, sold at USD 73 million, and her scrubber-fitted 2014-built sister STI ELYSEES went to Greek buyers at USD 70 million. In the LR1 and Panamax sizes, the 2016-built New Times pair BLUEBIRD and STARLING, each around 74,000 dwt, changed hands en bloc to UAE buyers for USD 110 million in total, or USD 55 million apiece. Older tonnage of the same size traded far lower, with the JAG SPARROW, a 2005-built 74,999 dwt unit from HHI, at USD 23 million and the ANDES, a 2003-built 68,439 dwt unit, at USD 13.5 million. The ADVANTAGE ATOM, a 2011-built 116,014 dwt Aframax from Samsung, reached USD 52.5 million, and the TIANLONG, a 2009-built 159,021 dwt Suezmax from Bohai, sold at USD 80 million.
Medium range business was broad. Greek buyers took the 2014-built SPP sisters STI DAMA and STI SOHO at USD 37.5 million and USD 37 million. The GREEN PLANET, a 2014-built 50,844 dwt unit from Dae Sun, sold at USD 36.5 million and the scrubber-fitted PACIFIC ONYX, a 2013-built 49,996 dwt unit from Onomichi, at USD 35 million. Further down the age curve, the MP MR TANKER 1 of 2011 achieved USD 29.3 million, the LEON GRACE of 2008 USD 22.9 million, the TORM LAURA of 2008 USD 22.5 million and the VALLE AZZURRA of 2007 USD 20 million. The BOW VICTORY, a 2016-built 21,193 dwt stainless steel tanker, sold at USD 30 million.
Gas carriers attracted the largest single commitment. ADNOC L&S bought the VLGCs CYH FUJIAN, CYH QUANZHOU and CYH YONGCHUN, built between 2014 and 2016, en bloc for USD 300 million. The 2015-built HELLAS POSEIDON went to Chinese buyers at USD 101 million and her sister HELLAS HERCULES to SPM Shipping at USD 95.5 million, while the BW LOYALTY, a 2008-built VLGC, sold to Eternity Dubai at USD 84 million.
Newbuilding orders were substantial. Scorpio Tankers contracted two scrubber-fitted 320,000 dwt VLCCs at Hengli at USD 135 million each, and YZJ Maritime ordered six 114,000 dwt LR2s at Jiangsu Haifeng at USD 79.5 million each, with options for two more. Heung-A Shipping placed three 26,000 dwt stainless steel tankers at Wuchang at USD 45.5 million each. In gas, Zodiac Maritime ordered two 174,000 cbm carriers at Hanwha Ocean at USD 250 million each, and two 88,000 cbm dual-fuel VLGCs were contracted at Samsung at USD 113 million each.
Kamsarmax pricing spread widely by age. The WORLD DIANA, a 2020-built 82,031 dwt unit from Oshima, sold at USD 41 million, while the KIRRIBILLI, a 2011-built 82,206 dwt unit from Tsuneishi, achieved USD 22 million. The DENSA PELICAN, a 2012-built 82,744 dwt unit from STX, sold at USD 20.5 million and the MOON, a 2012-built 80,505 dwt unit from the same yard, at USD 18 million. In the larger sizes, the EKATERINI V, a 2012-built 173,555 dwt Capesize from Bohai, went to Far Eastern buyers at USD 35 million, and the post-Panamax CONSTANTINOS G.O., a 2011-built 87,447 dwt unit from Hudong, at USD 16 million.
Supramax tonnage accounted for most of the volume. The PROMETHEUS I, a 2012-built 55,415 dwt unit from Hyundai-Vinashin, sold to Greek buyers at USD 19 million, and the NEW HORIZON, a 2010-built 55,445 dwt unit from Kawasaki, at USD 18.3 million. The STX-built sisters JUNIPER and OAK of 2011 sold en bloc for USD 33 million, the EURO BAND, a 2009-built 58,761 dwt unit from Tsuneishi Cebu, achieved USD 15.5 million and the PLATE QUEEN of 2007 reached USD 15 million. Older tonnage traded between USD 10 million and USD 11.5 million, with the SSI AVENGER of 2004 at USD 10 million and the 74,432 dwt Panamax AH GLOBE of 2005 at USD 11.5 million to Chinese owners. Among the smaller sizes, the DORIS, a 2011-built 34,505 dwt Handysize, sold to Greek buyers at USD 13 million and the ARXAGELOS, a 2007-built 28,534 dwt unit, at USD 7.5 million.
Precious Shipping ordered four 64,500 dwt bulk carriers at Taizhou Sanfu at USD 35.5 million each. DryDel placed two 82,000 dwt units at Tsuneishi, and Union Maritime contracted two 211,000 dwt units at Wuhu and two 40,000 dwt units at Imabari, all at undisclosed prices.
Recycling volume was light and largely made up of small tonnage. The standout sale was the LNG KANO, a 2007-built LNG carrier with cracked cargo tanks, which BW sold for recycling in India at USD 530 per LDT. Bangladesh took the reefer CURY, of 3,822 LDT, at USD 475 per LDT and the 1980-built bulk carrier KUSHIRO, of 1,040 LDT, at USD 470 per LDT. The cement carrier ASIA CEMENT NO.3, of 3,520 LDT, was sold by U-Ming at USD 446 per long ton on an as-is Taiwan basis.
Several sales closed at undisclosed prices. The FLORA, a 1997-built tanker of 9,741 LDT, went to India, the general cargo ALEVTIN SHELKOVNIKOV of 1981 went to Turkey, and the 2004-built bulk carrier JIA CHENG SHAN, of 10,820 LDT, was delivered to China.
Price levels eased slightly across the subcontinent. Bangladesh moved ahead of Pakistan for tanker tonnage and the two sat level for bulk carriers, with India some way behind both. Turkey remained well below the subcontinent yards.
