Neptune Dry weighs offers for 2015-built bulk carrier 

According to Hartland Shipping Services’ weekly report, 57,814-dwt and 2015-built ND Pistis is in negotiations for a sale at approximately US$22.8M. Other shipbrokers have noted a slightly lower figure of US$22.5M. Sources suggest the vessel has been up for sale for some time, with the owners aiming for a higher price. Shipbroking firms had reported back in 2017 that Neptune acquired this vessel for approximately US$21.5M.

The Neptune Group has been contacted for comment. Fleet data from Equasis shows Neptune Dry operates five bulk carriers.

If the sale proceeds, Hartland notes ND Pistis would become the first eco Supramax of this type sold since Belships’ transaction last May, when two 2016-built vessels fetched US$28.3M each. Analysts point out the reported price for Neptune’s vessel – a year older – reflects a decline in asset values in recent months.

Xclusiv Shipbrokers estimates the value of a 10-year-old Supramax in the secondhand dry bulk market at US$23.0M, while Allied Shipbroking offers a slightly higher valuation of US$23.3M. According to Allied data, the value of such vessels has dropped approximately 17% over the last six months but remains 11% higher than a year ago.

PCTC business and fleet renewal

Union of Greek Shipowners president Melina Travlos oversees the Neptune Group, which is well known for its pure car and truck carrier (PCTC) operations. Neptune Lines currently operates a fleet of 21 vessels with capacities ranging from 1,500 to 6,500 vehicles, according to the company’s website.

In line with a significant fleet renewal programme, Neptune Lines has ordered four 4,200-CEU LNG dual-fuel PCTCs at China’s Fujian Mawei Shipyard. These newbuilds are scheduled for delivery through 2027.

Dubbed the Genesis Project, the renewal initiative is expected to increase cargo capacity by 36% compared with the company’s current core fleet. The new vessels are designed to align with global emissions reduction targets.