Three new deals for the purchase and sale of ships from traditional shipping families

By George George

All the records in this year’s transactions in the market of used dry bulk carriers have broken all records, as the healthy levels of fares increase the interest of shipowners for new deals.

The last few days are indicative of the pace at which steamers are “changing hands”. “We are seeing strong activity, which is in line with the recent recovery in revenue (from the correction of the previous period) and the slight decline in asset prices,” said Allied Shipbroking analysts.

Indeed, the prices of most used bulk carriers show a drop at the end of November, compared to the corresponding levels recorded at the end of October. For example, a used 10-year-old capesize now costs $ 34 million, up from $ 36.5 million a month earlier (down 6.8%). However, this amount remains well above the average price of the last five years.

Two new deals

Of course, the Greek shipowners, who play a leading role in the market of used bulk carriers, could not be absent from the recent agreements.

Initially, AM Nomikos, in the interests of the Nomikos family, reportedly continued to sell ships.

In particular, all freight forwarding reports of the last week state that the company granted the ultramax “Noni” (capacity 61,631 dwt and built in 2015 in China), for $ 27.5 million. The price seems to be close to market levels for a ship of these specifications.

Seasure Shipbroking and Allied also recorded the sale of the panamax “Braveheart” (74,117 dwt capacity and built in 2001 in Japan), for $ 13 million. The price for the steamer, which has undergone special inspection and tanking, is considered satisfactory. After all, its value on the day of the sale, according to VesselsValue, was $ 11.9 million.

As Capital.gr recently wrote, AM Nomikos reportedly sold three more bulk carriers during the year and bought a steamer.

Another company with intense activity in the used industry is NGM Energy, interests of the Moundreas family, which has strengthened its fleet since the beginning of the year with used bulkers, capesize type, but also super-tankers (VLCCs).

Two different shipping sources now link shipping to the post-panamax “Mayfair Spirit” market (93,257 dwt and built in 2011 in China). The purchase price is determined in the “zone” of 18-19 million dollars.

The deal seems to be accompanied by a charter for the steamer until the period April – June 2022. The amount of fares is estimated by Xclusiv Shipbrokers at $ 34,500 per day.

The Equasis data platform locates 28 ships (bulk carriers and tankers) in the company’s fleet.

The order

At the same time, however, with the purchase and sale of used bulk carriers, investments in new products are recorded.

Specifically, Samos Steamship, interests of the Inglesi family, is connected by freight brokers with the order of two bulk carriers, type capesize, in a yard of Japan.

Shipping broker Banchero Costa estimates the cost for each ship at $ 60 million, levels that are in line with those on the market for building a capesize.

The order is confirmed by the list of new products that is posted on the website of the shipping company. Based on the same list, it is found that one ship will be delivered in the third quarter of 2023 and the second in the first quarter of 2024.

It is noted that in 2021 Samos Steamship is said to have ordered four tankers. The value of the investment is estimated by VesselsValue at $ 250 million.

However, the company is also active in the second hand market. According to data shared earlier this year by VesselsValue with Capital.gr, the shipping company provided three bulk carriers in the first half, for $ 70 million.

Samos Steamship manages, based on its website, a fleet of 20 steamers, tankers and bulk carriers, without the units under construction.