Shipping broker report 10/13/23

Friday the 13th - avoid vessels named Jason or Freddy, or named after black cats.

Our normal broker has let me down, so I am going with Golden Destiny this week. Slightly different format leading with a transactions summary table.

  • 19 bulker sales this week
  • Boston is an older transaction (DSX → OP)
  • Golden Suek (I believe a GOGL vessel)
  • Overall, somewhat newer bulker vintage selling
  • 5 tanker transactions, 4 involving MR2s
  • Active newbuild market, with 22 orders placed.

Maybe Advanced Shipping & Trading were being cautious about Friday the 13th, and opted for a next day release.
Interestingly, the broker has slightly different data. Fewer bulker transactions, but a lot more tanker transactions.

  • One correction from the prior post - the DSX-OP transaction I was thinking about involved Salt Lake City. The seller (DSX) has not changed. But whether Boston also involves OP as buyer, I don’t know.
  • There’s 9 additional bulker vessel trades that overlap.
  • Tankers is where it gets more interesting. Golden Destiny reported 5 vessels, Advanced Shipping reports 13 vessels (3 LR1s, 7 MR2, 2 MR1, 1 chemical tanker)
  • Fewer newbuild deals than Golden Destiny’s report

The report just provides the Tanker Index figures (BDTI & BCTI). But drilling deeper, it is the Suezmax and Aframax rates that have jumped. Overall, VLCC has moved less (My guess is last week’s Chinese holidays might be a factor, and VLCC rates could pick up eventually). Also, slightly surprised the BCTI is down. I thought I saw higher MR2 rates (don’t quote me :slight_smile: )

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