A number of incredibly high-priced fixtures bearing testament to an industry that is firmly on the rise were seen, GMS said in its weekly report.
Having seen some perplexing container and Capesize bulker sales in the preceding weeks, of late, the focus seems to have switched to tankers. Last week, the sale of two Polembros controlled units at eye watering levels must certainly have caught the attention of shipowners the world over.
As the tanker particular sector continues to struggle, whilst container and drybulk freight rates push on, strong scrapping rates to help remove some of the excess from the global trading (wet) fleets may just be what the doctor ordered. GMS said.
In recent years, excellent recycling volumes of Panamax containerships and Capesize (and other) bulkers have likely contributed to the far more bullish chartering sectors this year. This year, it is the offshore and tanker segments, which have endured the most pain, as about 13 VLCCs and 25 Aframaxes have been sold to date - in what has become the most active segment of recycling through 2017.
However, as newbuilds continue to hit the water, the ongoing recycling momentum needs to persist in order to balance out the global fleet size. Hopefully, this industry will continue to see a few more busy years ahead.
To this end, it would certainly help to witness the re-opening of the Pakistani market for tankers. There are again rumours circulating after the most recent PSBA meetings that this could become a reality by the second half of December, 2017, GMS said.
Among the vessels sold for recycling, according to various broker reports, were the 1996-built Suezmax ‘New Vision’ said to have gone to Indian buyers for $420 per ldt on the basis of ‘as is’ Khor Fakkan, gas free for man entry.
Indian breakers were also said to have taken the 1997-built Aframax ‘New Naxos’ for $430 per ldt on the same basis.
Another Aframax, the 1992-built ‘Concertina’ was thought to have been sold to Bangladesh interests for $362 per ldt. The same country reportedly took the 1993-built MR ‘Orit’ for $394 per ldt, plus the Handysize ‘Falcon Star’, built 1985, for $426 per ldt on the basis of gas free for hot work.