SALE AND PURCHASE MONTHLY REPORT 2/09/2011

The summer is ending and together with that the shipowners hopes for a recovery both on the wet and dry sides… I would like to urge my fellow shipowners to stop ordering new vessels!!! On the wet side they will be some time before balance is reached and on the dry side already the damage caused by the myriad of orders by greek and Chinese owners  will haunt us for years.. I don’t want to even mention the tens of orders for VLOC’s that will be poisoning the cape market for years…

As always lets start with the fresh orders. Ardmore has exercised options for two 50,000 dwt products in SPP making them four in total whereas socatra also ordered two similar ships in the same yard for long charter to total. Price for the above MR’s is region $36 mill.  Dynacom has ordered two more 155,000 cbm LNG’s in Hyundai costing $200 mill apiece thus they have a total of four on order while golar went to Samsung for a 170,000 cbm LNG FSRU and that will be the 13th LNG that golar has ordered!!!

Excelerate energy went to Daewoo for a 173,000 cbm LNG FSRU costing abt $280 mill while Chevron went to the samsung for a 154,000 dwt shuttle tanker.  Chios navigation agreed with Hyundai mipo to build two 52,000 dwt products costing abt $37 mill each and gaslog (ceres) added two more 155,000 cbm LNG’s at Samsung bringing their total at 8 ships costing abt $200 mill each!

Full article, ELNAVI magazine, September 2011, Page. 83

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