Sellers ask for more as buyers hold out

PUBLISHED : Wednesday, 18 May, 1994, 12:00am
UPDATED : Wednesday, 18 May, 1994, 12:00am

IT was another quiet week on the second-hand market, with improved freight markets causing sellers to demand higher prices while buyers are waiting to see whether the market will drop during the summer.

According to Wallem Shipbroking (Hong Kong) the only interesting point in the tanker market was Amoco's decision to sell its whole fleet - four Aframaxes built between 1981 and 1989.

The Tenacity, of 55,144 deadweight tonnes, (dwt), built by Kawasaki in 1979, has been sold to London Greeks for US$8.7 million with a two-year time charter attached at about $11,000 a day.

The IMO-3 chemical tanker Crane Alpha (6,015 dwt), built by Honda Saiki in 1984, is reported to have been sold in Japan at $4.1 million.

In the bulk-carrier market, the Handymax Theofano Liyanos (42,964 dwt), built by Mitsubishi in 1983, is reported to be have been sold to Yuming of Taiwan for $14.2 million after seven months of heavy marketing.

Geared Panamax Freeport (53,948 dwt), built by B&W in 1973, has been sold to Indian buyers at $6.5 million, though it is believed the deal may have been done about six months ago.

The Swedish-built Tina V (22,353 dwt), built by Uddevallavarvet in 1970, has been sold to Chinese buyers for $1.5 million.

The SD14 type Tweendecker DEA (15,159 dwt), built by A&P in 1971, is believed to have been sold at auction to Songerka Maritime strictly on a ''as is, where is'' basis in Malta for $353,000.

The container vessels Micronesian Independence and the Micronesian Commerce (8,776 dwt), built by Kochi Jyuko in 1982, have been sold to Orient Express Lines of Dubai at undisclosed prices.

The vessels have a capacity of 430 TEUs.