Shipping: S&P Market Activity Slows Down

Dealmaking activity in the S&P shipping market were few and far between over the past couple of weeks, as the Holiday Season was prevalent. In its latest market report, shipbroker Xclusiv said that in the dry bulk market, “the first week of the year was quite sluggish in terms of sales in the dry S&P market. The Panamax “Mythos” – 74K Namura found new home to Vietnamese owners for USD 8.5 mills. Finally, the 15 years old scrubber fitted Supramax “CS Sonoma” – 57K/2010 Jiangsu Hantong changed hands for USD 11.3 mills”.

Source: Xclusiv

Meanwhile, in the wet part of the market, the shipbroker added that “tanker S&P market activity was similar to dry as very few transactions were recorded. The “Chiba”- 46K/2007 Shin Kurushima was sold for USD 16.8 mills, while the “Sanjin 3025”- 14K/2020 Samjin changed hands for USD 17 mills, founding new owners in Singapore”, Xclusiv concluded.

In a separate note, Banchero Costa added that there was “little activity reported during holiday season, as usual. In the dry market, the Kamsarmax BETTYS DREAM 82,000 dwt 2008 Tsuneishi was rumoured sold to Chinese Buyers at $12.8 mln, while the RU MENG LING 81,000 dwt 2010 Universal was reported sold to Greeks at $15.4 mln. For comparison, back in September the LILY ATLANTIC 82,000 dwt 2009 Tsuneishi was sold at $16.25 mln. In the tanker market, the Japanese built product tanker CHIBA 45,000 dwt 2007 Shin Kurushima was rumoured sold at $17 mln, while the RALEIGH FISHER 35,000 dwt 2005 GSI was reported sold at $13.2 mln”.

Source: Banchero Costa

Meanwhile, in the newbuilding market, “in the dry market, Greek based Centrofin placed an order for 6 x Kamsarmaxes at Hengli Shipyard. The scrubber fitted vessels are expected to be delivered during 2nd half of 2026. Doun Kisen added 2 x Ultramaxes around 63,500 dwt and 2 x Kamsarmaxes around 82,000 dwt at Nantong Xiangyu. Deliveries are set for 2nd half of 2026, prices were reported at $35.3 mln and $37.3 mln. In the gas market Cosco Shipping will build at its own shipyard COSCO Shipping HI 2 x LPG around 87,000 cbm. Deliveries are expected for 2027 and the price is believed to be around $120 mln each”, Banchero Costa concluded.
Nikos Roussanoglou, Hellenic Shipping News Worldwide