“Poles of attraction” in the secondary market are the big ones bulk carrierstype capesize and newcastlemax, with the Greeks shipowners be behind several businesses.
In particular, between January and July 2024, a total of 90 large bulk carriers changed hands, compared to 69 in the corresponding period of 2023, i.e. an increase of 30.5% on a year-on-year basis, according to data shared with “N” by Irini Diamantara, executive of the Research and Valuation department at Xclusiv Shipbrokers. Of the 90, 62 are capes and 28 Newcastlemaxes.
Looking at this year’s offerings, most of the ships sold, 42 in number, are between 11 and 15 years old, while the second option are vaporizers aged 16 to 20 years. A trend that can also be observed in the deals concluded in the last seven months.
It is worth noting that Capes’ charter market had an exceptional first quarter this year, a period that seasonally puts pressure on the revenues of the vessels in question. The second quarter, however, proved to be slightly weaker, with freight rates continuing to correct in the last month.
Capes’ average daily revenue at the site fell yesterday to $20,729.
Greek shipowners are also still quite active this year, although they have slowed down compared to last year. As shipping sources say, Greeks are carefully focused this year on acquiring modern vessels, looking for attractive deals at competitive prices. Something that seems to match the numbers too.
Specifically, Xclusiv Shipbrokers data reveals that in the seven months of 2024, the “Greeks” purchased a total of 17 capes (9) and Newcastlemaxes (8).
Of these, 7 are quite fashionable, as they fall into the age range of 0 to 5 years, while another 7 are from 11 to 15 years.
February was the hottest month for business, as a total of 10 ships were acquired.
Between January and July 2023, the Greeks acquired 26 large bulk carriers, of which 23 are Capes and 3 Newcastlemaxes.
Most of the ships that national shipping companies added to their fleets last year were between 11 and 15 years old.
The main buyers
A separate survey by “N” on Greek shipowners’ deals this year also highlights the names that are the top buyers.
First up is Thenamaris, Nikola Martinou’s interests, which has strengthened with five capes/newcastlemaxes this year.
Danaos Corp., owned by Yannis Koustas, is closely watched, with purchases of three vessels. The U.S.-listed company made a surprise foray into the bulk industry last year, focusing exclusively on large vessels.
A little further down the list are Costamare owned by Konstantinos Konstantakopoulos and Neda Maritime, interests of the Lykiardopoulos family, with purchases of two vessels each.
Alpha Bulkers, the dry bulk shipping arm of the Annas Angelikousis Group of Interests, has also joined the group today. In particular, the Greek shipping company has been strengthened with the capesize Herun Global (181,100 dwt capacity and built in 2016).
It is noted that Greek freight brokers had mistakenly connected Chartworld to the vessel in question in the previous days.
Shipbroker sources point out to “N” that Herun Global changed hands at a very competitive price, compared to current market levels.
Alpha Bulkers is in the process of renewing its fleet, looking for newer vessels and leasing older tonnage.