Yay! Several brokers have a report this week. I use my favored one Advanced Shipping & Trading’s edition.
- 18 bulker transactions across the category spectrum (and a mix of modern & non-modern vessels)
- Recent BDI bounce might be lending support to some of vessel pricing
- 6 tanker sales (including 2 gas tanker sales)
- Another younger VLCC (less than 5-year old) sold for $118M+
- One modern, one old container vessel sold
Bulker indices seem to be “cooling” off - most notable in the Baltic Cape Index. As noted elsewhere, ZIM is looking to re-route vessels on its Asia - Mediterranean route. Attackers seem to have “researched” their targets. At least, a majority of the recently attacked vessels seem to have some affiliation with Israel (ownership or destination).
Little surprised by the Avance vessel pair sold. Prior to this, Avance had sold other VLGC vessels. But, the vessels sold were their older VLGCs. Are Avance not too enthusiastic about the near => medium term VLGC market? Or maybe, are there plans for additional MGCs - which may or may not turn out to be a more upbeat segment (thinking vessel fuel dynamics here)? I guess, will have to wait for Avance mgmt to explain the thinking.