Competitively priced Chinese-built bulk carriers make strong comeback in S&P market

Shipbrokers report renewed momentum in sale and purchase (S&P) activity, attributing it to improved buyer sentiment due to the recent clarification of the US port fee plan. With the revised fee structure turning out to be less severe than initially feared, shipowners have cautiously resumed investments in tonnage – particularly favouring competitively priced, Chinese-built vessels.

Buyer interest has continued to focus on sub-Capesize vessels this week, with numerous transactions reported across the Handysize, Supramax, and Panamax sectors. The deals highlight a clear price differential based on the origin of vessel construction.

In the Panamax segment, a Chinese-built vessel from 2008 reportedly changed hands for approximately US$9M. In contrast, a Japanese-built vessel of the same age fetched over US$12M.

For Supramaxes, a 14-year-old Japanese-built unit was sold for around US$16M, while similarly aged Chinese-built counterparts commanded between US$11M and nearly US$13M last week.

Handysize sales reflect the same trend: 2011-built Chinese vessels were priced around US$9M, while comparable Japanese-built units ranged between US$11M and US$12M.

New owners revealed

Shipping data platforms have recently disclosed the identities of new owners for several bulk carriers transacted over the past weeks.

Singapore-based Safe Arrival Shipping has acquired 207,953-dwt Newcastlemax Global Commander (built in 2010), now renamed Spring Venture. The vessel was reportedly sold for around US$32M, according to late March shipbroking reports.

Another notable transaction involves Sea Pluto, an 81,007-dwt Kamsarmax built in 2013 and previously owned by John Fredriksen-led Seatankers. The vessel has been sold to new Chinese owners, renamed HN Doris, and is now managed by HMC Shipmanagement. The deal is believed to have closed at approximately US$17M.

In the Handysize segment, Greek shipping company Istia Maritime is now listed as the owner of 32,500-dwt Nava Socrates (built in 2012), formerly known as Seastar Venture. Brokers reported about a month ago that the vessel was sold for around US$9M.