The secondary market for bulk carriers continues to register frenetic rates although it is a difficult period for business, at a time when prices appear to have reached their peak.
Freight brokers reported a large number of sales in their weekly reports, with Greek companies participating in the recent trend.
“The second-hand market for bulk carriers remains consistently strong, unaffected by the usual summer lull, with a notable number of deals,” said shipbroker George Moundreas & Company SA.
Most trades are recorded between vessels aged 12 to 19 years.
Hartland Shipping Services has linked the pace of business to the race of athletes participating in the Olympic Games.
The Greek agreements
One of the most interesting deals of the past week is the sale of the capesize bulk carrier Herun Global (181,056 DWT capacity and built in 2016) by China’s Herun Group, reported to Chartworld.
It should be noted that during the second half of last year, the Greek carrier acquired another capesize from the Herun Group, the Herun Zhoushan (built in 2017), which was later renamed Star Asia.
As “Naftemporiki” recently reported, Chartworld is implementing investments of more than 160 million dollars in recent months to renew and strengthen its fleet.
In particular, the large shipping group has been reinforced since the beginning of the year with three large bulk carriers, two capesize and one mini capesize, while also ordering two MR tankers in China.
It is worth noting that since the beginning of 2024, 77 capesize bulk carriers have changed hands on the secondary market, compared to 122 in 2023, according to data from maritime brokerage Allied Shipbroking.
However, it appears that Load Line Marine is also keen to buy. The carrier recently delivered the supramax Thetis (capacity 57,981 DWT and built in 2013), which has been renamed Eagle Trader. Shipping brokers reported a few months ago that the vessel had changed hands for $17.5 million.
At the same time, national shipping companies are associating the Greek shipping company with two more agreements.
One concerns the supramax Gillingham (capacity 58,000 DWT and built in 2010) and the other the practical bulk carrier Dl Jasmine (capacity 33,737 DWT and built in 2012).
Although not yet confirmed, the two reported purchases fit the profile of Load Line Marine, specialized in supramaxes/ultramaxes and handies.