Greek buyers most active in Capesize sector as values increase 50%
Lagos -- Values for Bulkers have been going from strength to strength this year, up across all ages and size categories.
Notably, the Capesize and Supramax sectors have seen some dramatic increases, for example in the Capesize sector, values for 20YO vessels of 180,000 DWT have shot up by c.39.6 % from USD 13.86 mil to USD 19.35 mil, the highest levels since 2010. On the other end of the scale, newly delivered 0YO Supramaxes of 60,000 DWT have firmed by c.12.6% since the start of the year from USD 33.44 million to USD 37.64 million.
Year on year Capesize values have seen some impressive gains and 0YO vessels of 180,000 DWT have increased by c.43.3% from USD 53.25 mil to USD 76.22 mil. To date, the volume of Capesize sales has more than doubled from the same period last year, with 42 sales reported since 1st January 2024 compared to 20 for the same period last year.
The Bulker sale and purchase market has been very active showing a c.35% year-on-year increase. In February 2024 there were 33 Capesize sales concluded compared to just 9 in February 2023, an increase of c.267% yearon-year. For the Supramax sector, this figure increased by c.20%. Greek buyers were the most active in the Capesize sector, accounting for c.33% of purchases and in the Supramax market, the Greeks also ranked first along side Chinese buyers with a share of c.28%.
Notable sales
Notable recent sales that have continued to push the values higher include the Capesize (Newcastlemax) Shin Koryu (208,000 DWT, Oct 2009, Universal) to Winning Shipping for USD 32.75 mil, VV Value USD 30.46 mil. Also, the Supramax BC Bulk Monaco (63,700 DWT, Jun 2023, Shin Kasado Dock) sold to CTM Deher for USD 40.5 mil, VV Value USD 39.69 mil and the Supramax BC Andromeda (61,500 DWT, Jan 2011, Oshima) sold to unknown Turkish buyers for USD 21.0 mil (DD Passed), VV Value USD 19.80 mil.