Asian owners drive dry bulk S&P activity amid rising demand for smaller tonnage

In its latest weekly report, Doric Shipbrokers noted Far Eastern buyers are intensifying competition for available tonnage, “which has kept prices buoyant despite the absence of a market upswing.”

WeberSeas echoed this trend, observing Chinese shipping companies continue to lead the sale and purchase (S&P) market. In contrast, their primary rivals, Greek shipowners, appear to be adopting a more cautious, ’wait-and-see’ approach.

This sentiment is shared by Hartland Shipping Services, which pointed out that, despite recent shifts in US trade policy targeting China, buyers from the region remain, “ironically,” the most active participants in the market.

Reviewing transactions reported over the past week, Chinese owners were linked to purchases across the size spectrum, from a 2010-built Capesize to vintage Panamaxes averaging over 20 years of age, as well as mid-sized Supramax and Handysize vessels.

Vietnamese and Indonesian companies have also shown strong interest, with recent deals involving Supramax/Ultramax and Handysize bulkers.

According to data from Allied Shipbroking, Chinese owners have acquired 195 bulk carriers over the past 12 months, making them by far the most active buyers, while Vietnamese companies rank among the top five with 26 vessels purchased.

Chinese-built tonnage makes a comeback

Meanwhile, Chinese-built vessels are making a notable return to the sales charts, as the US port fee proposal turned out to be less severe than initially feared.

Allied Shipbroking highlighted in a recent analysis that while Capesize bulkers are expected to bear the brunt of the new rules, smaller vessels, such as Handysize, Handymax, and some Ultramax units typically under 66,000 dwt, are generally exempt.

In response, the Supramax segment has seen a resurgence in activity. At least five vessels were reportedly sold last week, with several more under negotiation.

“Notably, several 57,000-dwt Supramax vessels have changed hands. This trend may be linked to the fact that US tariffs on Chinese-built ships were less severe than initially anticipated,” WeberSeas noted.

According to Allied Shipbroking, Supramax/Ultramax bulk carriers remain the most popular asset class for shipowners pursuing S&P deals in 2025, with 66 transactions recorded through the first week of May.