Kamsarmax newbuilding resale reflects ship value fall
- 2009-02-15
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A kamsarmax newbuilding nearing completion at Oshima Shipbuilding has been sold for between $35m and $36m, brokers report Friday.
Buyers of the vessel, which is due for March 2009 delivery, are undisclosed.
The seller of the 82,000-dwt bulker is not immediately clear, and a handful of Japanese owners have orders for vessels that meet the description at the compatriot yard.
Sanko Steamship and Shikishima Kisen each have one such vessel due in March, while Mitsubishi is awaiting a February delivery.
Cido Shipping, which has been selling off vessels in recent months, is awaiting an April delivery.
In December 2004, Cido paid $40m each for its pair of 82,000-dwt kamsarmaxes at Oshima, suggesting that the seller may be facing a loss on the newbuilding.
Brokers are comparing the kamsarmax sale to that of the 82,600-dwt Nord Hercules (built 2007). That Japanese-built bulker fetched $38.3m, indicating a value decline, brokers say.
