THE highlight of the week was the sale of the Japanese-controlled Aframax tanker Yuyo Maru, which set a new benchmark price for vessels of the type.
Having been inspected by 21 potential buyers in Singapore recently, the 81,245-deadweight-tonne (dwt) Yuyo Maru, built in 1980, and owned by Daitoh Trading in Japan, sold to Troodos Maritime for US$11.35 million, a significant increase on the last Aframax sold of similar vintage.
The price reflects market pressure as the type has attracted considerable interest from potential buyers of wet tonnage in recent times.
In dry tonnage, there have been rises in both the freight market, where the Baltic Freight Index (BFI) went up significantly, and in prices being achieved for second-hand tonnage.
There would appear to be no reason why this upward trend should continue, to any great extent but, for the moment at least, it appears to be a seller's market.
Hongkong-based interests are thought to have purchased Indian-controlled Tweendeckers Indian Reliance, Indian Resolve, Indian Renown and Indian Resource, each of about 16,100 dwt. The vessels, built in 1977, 78, 78 and 79 respectively, reportedly changedhands for about $12 million though precise details have yet to be confirmed.
