Greek buyers dominate market

PUBLISHED : Wednesday, 10 February, 1993, 12:00am
UPDATED : Wednesday, 10 February, 1993, 12:00am

TANKER prices improved slightly last week though the dry-freight market remains mostly wthout direction, with rates hardly varying from most recent levels.

Greek owners have been by far the dominant force in second-hand purchases, with a number of concluded sales last week and many inspections of vessels taking place.

Considerable interest has been shown in two re-sale Panamax bulkers about 70,000 deadweight tonnes (dwt), delivering September 1993 and January 1994 building in Daewoo Shipyard in South Korea.

The vessels were originally contracted for Czech Ocean but are now to be sold by the yard for around US$26 million each.

In the tanker market, vessels which were reported sold included the 238,000 dwt Ambra Orient, the 248,000 dwt ore-oiler Atlas Pride, the Sanko-controlled Aframaxes Arabian Addax and African Addax - each of about 83,500 dwt.

Also deals were made for the acquisition of Argonaut's three Suezmax sister vessels Minerva I, Hera and Argo Iduna, each of about 128,400 dwt.

In the bulk carrier market, two old Capesize vessels, the Berlisa, about 152,049 dwt, and the UK-controlled Graiglas, about 109,880 dwt were sold.

The Carnival, about 56,494 dwt, also changed hands.

New York-based Greek buyers, who were thought to have inspected and been interested in the Carnival, have been reported to have purchased the Jablanica, about 30,084 dwt.

In the Tweendecker market, the Crystal Queen, about 20,819 dwt and the Prince Shaul, about 14,938 dwt reportedly changed hands as well.

Report supplied by Wallem Shipbroking (Hongkong) Ltd.