Biggest Spenders of 2015 – VV Weekly Newsletter

While no VLCC or Aframax sales have taken place this week values have fallen slightly due to futures rates reducing. Modern Suezmax values have again fallen slightly due to futures rates although the early to mid 2000 built ships have increased in value due to the sale of the Cape Bata and Cape Bowen 160, 000 dwt blt 2003 Samsung for usd 31 mil. Our understanding is that this deal is still on subjects. MR values have fallen at the modern end of the age profile following the resale of 2 York Capital MRs building at SPP with delivery 2016.

An equally quiet week in bulkers with no capsizes done although values have gone up fractionally due to the increased spot market. Modern panamax values continue to rise with the sale of the Bergen Trader 81, 600 dwt blt 2011 Sundong for usd 19.2 to Italians whereas older values have fallen further with the sale of Proteus 73, 000 dwt blt 1999 Daedong at usd 4.1 mil to Greeks. Supramax values continue to fall following the sale of the Speedwell 50, 300 dwt blt 2003 Kawasaki for usd 7.8 mil, this vessel had been in the market for around a year.

Only one sale in the container market this week with the Dolphin Strait 1, 118 TEU blt 2003 Jinling selling for usd 4.4 mil. This has resulted in a reduction of feedermax values and more specifically a further reduction in how VesselsValue.com’s algorithms score Chinese yards for small container vessels.