Shipping broker report 12/22/23

I guess it might just be the number of days till Christmas - but more than a few options from brokers. Actually, higher than usual.
Since Advanced Shipping & Trading is available, I will use that one

  • 9 Bulker transactions this week
  • Kamsarmax and smaller, vessels on the modern/newer side
  • 13 tanker sales covering the vessel spectrum
  • Other than the VLCC and LR2 sales, vessels are non-modern
  • On the newbuild front, Mitsui Corp (8 vessels) and George Economou (7 vessels) were the active parties

Last week I was a little puzzled with Avance Gas’ sale of a pair of VLGCs. A different broker is suggesting the deal is actually a Sale & Leaseback transaction with a Chinese financial institution. In my mind, that makes a lot more sense, and “the buyer” would be actually be the charterer

Vessel routing around the Cape will definitely have an impact on the shipping market. It also, possibly, changes the situation for Euroseas (ESEA) who take delivery of container newbuilds starting in Q1 2024.
[Edit: ESEA’s smaller container vessel would struggle sailing around Africa, but would likely assist with delivery intra-Europe and Mediterranean Sea ports ]