Shipping broker report ending 07/21/23

Shipping broker Advanced Shipping & Trading seems to bouncing around on their reporting day - sometimes Friday, sometimes Monday.

  • Busy week for bulker activity. 16 vessel sold, including a block sale of 5 Cape vessels to Danaos Capital (DAC)
  • From Page 1, it seems the prior owner encountered financial issues as DAC acquired the 5 vessels from a leasing bank.
  • Good deal for DAC? Hazy outlook in current market, and a negative if the vessels don’t have scrubbers
  • 5 tankers sold (2 VLCCs, 3 MRs).
  • Focusing on the larger tankers, each owner seemed to have done well (FRO sold a 2010 South Korean built tanker a few months back at a similar price point). Older VLCC is 20-yo vessel with limited transport prospects.
  • MSC still acquiring second-hand container vessels
  • Active newbuild market - about 30 vessels spread across sector and size