Used market busy despite Lunar New Year holiday

PUBLISHED : Wednesday, 23 February, 1994, 12:00am
UPDATED : Wednesday, 23 February, 1994, 12:00am

THERE has been a fair amount of activity in the used-vessel market despite mainland buyers being virtually sidelined by the Lunar New Year holiday, says Wallem Shipbroking (Hongkong).

The company report says product tankers are attracting considerable attention with several deals expected to be concluded in the coming weeks.

The dry market has seen several Handysize sales, although buyers remain cautious, it said.

In the tanker market, Wah Kwong is believed to have sold the Chemical Venture, of about 29,810 deadweight tonnes (dwt) and built in 1981 by Minami-Nippon, to Anders Wilhelmsen for about US$8.5 million.

The Panamax tanker Almak, of about 57,375 dwt and built in 1978 by Cammell-Laird Sulzer, has been sold for about $7.75 million to undisclosed buyers.

Embiricos has purchased the Worldwide controlled very large crude carrier (VLCC) Eastern Courage, of about 267,807 dwt and built in 1977 by Hyundai, for about $11.5 million.

The 1974, Hellenic-built product tanker Seaborn II, of about 31,120 dwt, has been sold within Greece for about $4.4 million.

In the bulk carrier market, the Norwegian controlled Panamax Steinstadt, of about 63,631 dwt and built in 1976, has been sold for around $6.25 million.

Pan Ocean, Seoul has bought the US-controlled Trudy, of about 29,432 dwt and built in 1985 by Hyundai, for around $11 million while the IMC controlled Alaska Trader, of about 25,758 dwt and built in 1986, has been sold for close to $12 million to Korea Line, also based in Seoul.

The Norwegian-controlled lakers Wiltrader and Wilrider, each of about 28,082 dwt and built in 1984 by Hitachi, have been sold for $23 million for the pair, to Greek buyers.

The 1,325 TEU cellular vessel Caraibe, of about 23,058 dwt and built in 1977 by Gdansk, has been sold to Uniship for $12.5 million.