The Trumpet from VesselsValue.com on 27 May 2015

Reports, Sales and Purchases — By on May 27, 2015 at 7:04 PM

The Trumpet 24092014

Wednesday 27 May 2015
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VV team out last night at The Bandstand to celebrate new recruit Sophie to the marketing team Valuation Analyst Toby Yeabsley wakeboarding after a successful day sailing during the Baltic Exchange sailing weekend
Tradewinds reports that The Phoenix which left a Canadian port after it was arrested over two years ago has suffered an engine breakdown after covering only 200km of its journey to Dubai. VV@ show the ship is now being towed into Quebec City for repair work.The vessel was arrested last July after Canadian investment company Ballantrae Holdings filed a lawsuit aimed at foreclosing on a November 2013 loan

The VV Port Distance Tracker states that The Phoenix still has over 8, 000 nautical miles before it reaches its destination at Dubai.

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VV in the Press: Maritime CEO

VesselsValue.com has paired up with Maritime CEO to produce the annual Rich List. The magazine will be distributed at NorShipping later this year.

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Seasure’s Demolition Report

Seasure Shipbroking’s weekly demolition report looks at individual ships scrapped, LDT/$ fluctuations and demolition trends within the bulker, tanker and container industries.

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Job of the Week

See Spinnaker’s Job of the Week: Chartering Manager, NY, USA

Our client, an international corporation with a global presence, is looking for a Chartering Manager to join their office in New York and provide them with global coverage.

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Panamax BC values liftAn interesting week for VLCC values with renewed interest in older tonnage but reduced interest in more modern tonnage.Universal Crown and Universal Queen309, 400 dwt blt 2005 HHI sold for the tempered value of usd 49.5 mil each. Also supporting the reduced values in modern tonnage is the negotiation of resale under the usd 100 mil mark. That said there is still significant interest in older tonnage, specifically for storage contracts. Suezmax values have reduced ever so slightly due to slight reduction in freight rates. Aframax values have firmed, especially around the 10 year old mark with high negotiations taking place as well as the sale for conversion last week of the Texas Star 115, 300 dwt blt 2003 Sanoyas at the huge price of usd 28 mil with 6 months subs. LR1 values have firmed slightly following the dirty trading Kaspar Schulte72, 700 dwt blt 2004 Samsung at usd 21 mil. Older MR Kandilousa 46, 700 dwt blt 1995 HHI sold for the firm price of usd 8.3 mil.

Cape values continue to drop following the sale of the C Prosperity 175, 600 dwt blt 2011 Jiangsu Rongsheng at usd 25 mil to Zodiac. This represents a new low. Conversely panamax values have firmed slightly following the sale of the Lowlands Queen 76, 600 dwt blt 2008 Imabari at usd 15.3 mil to Greeks. Slight uptick in Supramax values with the sale of the Hudson Trader II 58, 100 dwt blt 2009 Tsuneishi Zhoushan at usd 14.2 mil to AM Nomikos.

Panamax container ship values have tempered following their 2015 surge, with a number of sales being rumoured at end 2014 levels. In the Handy segment the Christopher1, 440 TEU blt 2008 P+S Werften sold for the firm price of usd 14.5 mil giving the uplift in values.
Read more of our Weekly Valuation round ups here

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Register for the Seasure Blue Report to see the total sales for last week, comparing the VesselsValue.com online valuation to the sale price. 2014 ytd S&P trends are also included.

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