Again using Carriers data this week.
- 12 bulkers vessels sold last week, including three relatively-new Newcastlemaxes.
- Pricing on the Newcastlemaxes ($71M each) does stand out
- 10 tanker sales, including two enbloc sales
- SFL transaction mentioned last week is listed.
- EURN are selling 3 older VLCCs
- STNG appear to be selling two MRs
- Enbloc sale of two container vessels with MSC the $40M buyer.
- Vessels are on the older side -2001 builds. I think MSC overpaid for the pair. However, MSC is the largest liner company in the world, so there might be special plans for the vessel pair
https://www.hellenicshippingnews.com/wp-content/uploads/2024/03/WK-13-24-CARRIERS_SP-MARKET-REPORT.pdf
With the tragic events tied to the collapse of Francis Scott Key bridge in Baltimore, it will be interesting to see the impact on logistics in Baltimore, and how the container shipping sector adjusts.
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How long would you estimate it will take to recover the ship? How long do you think it might be to reopen the harbor? Are the shipping companies on the hook for the containers on their ships in terms of liability and/or delivery times? Is it likely that the containers (and other stuff) can be transferred to another port for shipment? Or does ‘to the minute scheduling’ cause all of it to fall apart?
JimA
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@JimA759s - Some good questions.
The vessel and the containers - not too big a concern. The charterer of the vessel is Maersk, so I would expect some basic due diligence on their part. Some type of insurance will generally cover vessel and cargo. If the vessel route was on a periodic schedule e.g. twice a month, then obviously the future trips to Baltimore can be suspended in the interim. Maersk being the charterer will also be a plus for the customer. Maersk has a large logistical footprint, and can thus make some adjustments e.g deliver the containers to a different port, and then help with deliveries to the original warehouses or alternate warehouses or delivery points. There will be some initial delivery impacts, but I don’t think that is a long-term ongoing issue.
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Thanks; maybe another tunnel to replace the bridge! 
JimA
03/29
Here are additional details on post-bridge-collapse developments.
As I noted earlier, Maersk has a better logistical footprint than most. One can see how the company has, at least in the interim, opted to offer a more complete option than other liner companies. Other liner companies are saying, “Force Majeure - pick the container up at alternate location”
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