Sale and purchase activity in week 35 spread across most segments, with the MR tanker sector and the Supramax dry bulk sector carrying the largest share of reported volume while recycling prices held their ground on limited candidate supply.
The MR sector accounted for the largest share of tanker activity. The 2011-built sisters LUCTOR, 50,383 dwt, and TURMOIL, 49,997 dwt, were each committed at USD 26 million with three-year bareboat charters attached at USD 16,000 per day. The comparable XING TONG 799, 49,962 dwt and also built in 2011, went to Indonesian buyers at USD 27.2 million. Older MR tonnage traded at a wide discount to that band. Chinese buyers acquired the ice class 1A, epoxy coated MINERVA XANTHE, 50,922 dwt built 2006, at USD 16 million, while the 2007-built RUI FU SHENG, 46,846 dwt, changed hands in the region of USD 19 million and the 2006-built LADY OF DORIA, of the same size, achieved USD 14 million. At the young end, the 2018-built PM REGENT, 49,874 dwt, was reported at USD 45.5 million.
Suezmax buying continued at both ends of the age curve. The 2010-built CAPE BENAT, 156,719 dwt and scrubber fitted, was sold at USD 62.5 million, while the 2007-built SUEZ ICE SUPREME, 146,356 dwt, went to UAE interests at USD 57 million. The most significant capital commitment in the segment was a resale, with a 2028-delivery Suezmax at Daehan taken at USD 107 million on a novation basis. The gap between that figure and the price paid for a fifteen-year-old unit illustrates how far the term structure of tanker values has widened.
In the larger crude sizes, a 2011-built VLCC of 320,261 dwt was reported at USD 97 million to Singapore-based interests. Aframax activity was thinner. Chinese buyers took the 2006-built MINERVA NOUNOU, 114,850 dwt, at excess USD 40 million on a basis of survey and drydocking passed, and the 2004-built SAI, 105,200 dwt, was committed at USD 27.3 million.
Dry bulk volume clustered in the geared sizes. Five Supramax units were reported sold, spanning a decade of build years and a range of USD 12.9 million to USD 19.2 million. The 2012-built SIDRA, 56,140 dwt, achieved the top of that range at USD 19.2 million with Indonesian buyers named. Below it, the 2011-built KANCHANA NAREE, 56,920 dwt, went at USD 14.6 million, the 2008-built and scrubber fitted HARVEST, 58,779 dwt, at USD 13.8 million, the 2011-built EBURY TRADER, 56,603 dwt, at USD 13 million to Chinese buyers, and the 2009-built FLC HAPPINESS, 56,799 dwt, at USD 12.9 million.
Handysize tonnage traded across a similarly wide band. The 2013-built DEVBULK SINEM, 38,009 dwt, was reported at USD 14.8 million and the 2013-built CHINA SPIRIT, 35,097 dwt, at USD 13 million, while the smaller 2011-built T PRIME, 32,451 dwt, achieved USD 9.5 million.
Larger sizes saw selective interest. The 2009-built Capesize NAVIOS POLLUX, 180,727 dwt, was sold at USD 30.75 million. In the Panamax and Kamsarmax segment, the 2012-built KIYO, 92,353 dwt, was acquired by Chinese buyers at low USD 19 million, the 2010-built EFRAIM A, 82,174 dwt, was committed at USD 20 million, and the older 2008-built KM MT. JADE, 81,487 dwt, achieved excess USD 16 million. The single modern unit of the week was the 2020-built Ultramax IVS DUNES, 62,661 dwt, at high USD 36 million, a price that sits close to current newbuilding contract levels for the size.
The recycling market was steady across the Indian subcontinent, with prices holding close to the prior week and sentiment described as constructive. Bangladesh retained the firmest bids for tonnage positioned in the East. Domestic plate values in Chattogram were unchanged at 64,000 taka, close to USD 522 per tonne, and local plots hold ample cutting capacity, though the anticipated post-monsoon surge has been held back by a thin list of available candidates.
India gathered momentum. Alang plate prices settled at 41,000 rupees per tonne by the close of the week, restoring margin for yard operators, and domestic steel consumption is projected to grow by more than 9% this year on the back of infrastructure and housing outlays. Indian buyers remain behind Bangladesh and Pakistan on conventional bulker and container tonnage, though they have been competitive on specialist units such as large gas carriers and high specification chemical tankers.
Pakistan absorbed a mild correction after the aggressive upward revisions of the preceding week, which the market has read as consolidation. Local breakers continue to pursue viable candidates and have demonstrated the ability to bid at the top of the regional market when domestic demand and vessel position align. Turkey was quiet again, with flat plate prices in Aliaga and recyclers holding a selective stance while the policy rate remains at 37%.
Reported sales included the 1992-built tanker ATHENA at USD 540 per LDT and the 1999-built tanker BURSA at USD 479 per LDT. Two 2001-built woodchip carriers, CRIMSON NIGHT and CRIMSOM SATURN, were each reported at around USD 496 per LDT, with the discount on the former attributed to a narrow list of recycling yards acceptable to sellers. The 1997-built Panamax bulker TAI HANG 3, 73,049 dwt, and two vintage general cargo units were also committed without prices disclosed.
