HK firms active in the bulk market

PUBLISHED : Wednesday, 03 November, 1993, 12:00am
UPDATED : Wednesday, 03 November, 1993, 12:00am

HONG Kong and mainland Chinese buyers were active in the bulk carrier market last week, according to a territory ship broker.

Wallem Shipbroking (Hong Kong) reported that Hong Kong-based Noble Resources bought the 23,790 deadweight tonne (dwt) Sandra M for about US$9 million.

The ship was at built by Imabari in 1992.

Hong Kong buyers also purchased the 17,475 dwt C.S. Scope for about $3.7 million, with a three-year time charter attached at $5,500 per day.

The ship was built by Tsuneishi in 1978.

Mainland buyers picked up the 40,070 dwt Miguel for about $5.25 million.

The ship was built in 1974 by Sanoyasu.

Chinese buyers also are believed to have bought the Diligence Trader from the Japanese for about $12.4 million.

The 26,536 dwt ship was built by Kanasashi in 1985.

The Suisse Atlantique-controlled Panamax Silvaplana was sold to Turkish buyers for about $26 million, which seems high in comparison to newbuilding prices.

The 68,789 dwt ship was built by Hyundai in 1990.

The 25,439 dwt Laurel Island, built by Imabari in 1982, was reported sold to undisclosed buyers for about $8.7 million.

Tween-decker Kiccho Maru was sold Far Eastern buyers for about $3.75 million.

According to Wallem, the Capesize and Panamax sectors remain quiet and a number of ships built in the early 1980s have come on to the market recently, with the owners feeling now is the time to sell while prices are relatively strong.

The tanker market was quiet although the Japanese were expected to continue selling off older tonnage, mainly to Greek operators.


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