Shipping broker report ending 05/26/23

Big plunge in dry bulk indices this week

Using data from Advanced Shipping & Trading this week

  • 13 bulkers sold - 8 modern, 5 old. Most of the vessels have an upcoming DD/SS
  • 12 tankers sold - 4 modern, 8 old. Seller advantage on the 4 Aframax sales
  • More bulkers for Fredriksen-backed SeaTankers? Public entity GOGL has started taking delivery of similar-sized Kamsarmax vessels this year (1 has delivered, and a handful more come online this year.
  • Yikes! $55M for an MR-sized vessel - Methanol fueled, I wonder if it is a conventional market or specialized (LPG, chemical)?
  • Scrap rates holding up on generally older vessels.