Shipping broker report ending 02/18/24

No holiday for the Greeks. At least, no holiday for the Greek shipping brokers.
It was a Monday 02/19/24 release this week from Carriers

  • Fairly busy bulker activity with 22 vessels sold, including a pair if vessels in an enbloc trade.
  • Vessel age all over the place with range from 2002 - 2020
  • 9 tanker transaction this week.
  • Fewer vessels, tighter gap with vessels ranging from 2003 - 2015
  • Among known sellers - GNK (2 Capes), NMM (a VLCC), SBLK (Ultramax), ASC (MR2)
  • 7 newbuilds including SBLK’s option on 3 Kamsarmax, and a DAC order for 2 midsize container vessels.

Increased rates across the board for both bulker categories and tanker categories, including another good week for LPG. A couple of weeks ago, FRO sold Chinese-built VLCCs (4 of 5 vessels) at a higher average price than what NMM realized for their VLCC (same year - 2009). That could partly be due to FRO’s experience as a tanker entity. The GNK sale of 2 older Capes makes sense. The company did acquire at least one newer Cape as a replacement for one of the two…