The consistency continues from broker Advanced Shipping & Trading
- Less active bulker activity this week. 8 transactions, in the non-Cape categories.
- Of the 6 in the Supramax/Ultramax category, 3 were Greek entity Eurodry (EDRY) purchases. Interesting because Pittas backed companies have usually focused on much older tonnage. In this case, 8 or 9-year-old vessels actually rejuvenates their fleet.
- 11 Tanker transaction this week. Aframax/LR2-and-smaller
- In general, pricing advantage to vessel sellers.
- A pair of small container vessel transactions
- Fairly busy newbuild market: 16-18 vessels, all from Chinese shipyards
Tanker market behaving like it traditionally has in Q3 (quite weak). Although the Cape market has seen an uptick, the bulker market is not behaving as it traditionally does in Q3. Haven’t paid close attention, but my guess is the container sector is still trying to find direction.