ANDREAS J.

ZACHARIASSEN
Schiffahrtsgesellschaft mbH & Co. KG

Hamburg • Shanghai

Shipbrokers since 1933

Tel.: +49 - 40 - 309 509 0

Fax: +49 - 40 - 309 509 33
Große Johannisstraße 7
snp@zachariassen.de
20457 Hamburg
www.zachariassen.de

Weekly Market Report No. 12

For the week 13th - 19th March, 2024

The dry bulk market has continued on with the positive momentum witnessed across the secondhand markets. The vast majority of sales concluded as of late were concentrated across the supramax
segment, which has seen at least nine units change hands recently. The ten-year-old THETIS (57,981 DWT, 2013 China built), for example, achieved USD 17.5 mio, while the same-aged, albeit
Japanese constructed PACIFIC INTEGRITY (56,100 DWT, 2013 Japan built) sold for USD 20.5 mio together with previously reported PARADISE ISLAND. Moving down to handysize bulkers, Greek
buyers have paid USD 15 mio for the OMNIA (36,787 DWT, 2011 Korea built); elsewhere, the ASIAN BULKER (36,228 DWT, 2017 Japan built) has been sold for USD 24 mio.

Despite an increase in VLCC rates lately, there are no such large vessels to report this week. In fact, there continues to only be few sales concluded on an overall basis in respect to tankers.
Nevertheless, we can report that International Seaways has offloaded the MR unit, PACIFIC JEWEL (48,012 DWT, 2009 Japan built), for USD 23.7 mio. Apart from this, the handysize tanker ACADIA
TRADER (38,177 DWT, 2004 Korea built) sold for USD 15.5 mio.

Amidst the current long-month observance of Ramadan, coupled with an ongoing lack of available tonnage, we continue to see steady, albeit still subdued activity across the ship recycling front.
Regardless of the current market competition, Bangladeshi buyers continue to pave the way in terms of volume, comparatively speaking, at least to its Indian subcontinental counterparts. Although a few
bulk carriers sales have been concluded, several owners have continued to hang on to their aging bulkers in consideration of the favourable markets. On the container vessel front, MSC has sold the
MSC ROSSELLA (13,305 LDT, 1993 Korea built) to Indian breakers at USD 530 / LDT; this sale has occurred in parallel to MSC's acquisition of two larger secondhand ships, the LYON II and PARIS II
(6,627 TEU, 2001 Korea built), which we have reported this week as well.

Amongst the half-dozen recent newbuilding contracts we can report in this week's market overview, a few names have shown up again, being accounts who have already been active on the ordering side
so far this year. For example, Lepta Shipping - who recently placed two separate tanker orders at Fukuoka - has signed contracts now with Yamic on the dry side, namely, ordering two scrubber-fitted
kamsarmaxes at USD 39 mio each. Also growing their fleet with the addition of another two bulkers, is Meadway, who has tapped Tsuneishi Zhoushan to build 66,000 DWT ultramaxes by 2026. The
traditional pure car and truck carrier player, Ray Car Carriers, has entered the newbuilding market for a set of four 320,000 DWT VLCC tankers priced at USD 130 mio each. The vessels will be
delivered from Hyundai Samho within 2027 and will add to the already growing fleet of the Israel-based company.

Bulkers
Price
Name of Vessel Deadweight Built Main Engine Gear Buyers Remarks
in Mio. USD
Genco Maximus 169,021 2009 Korea MAN-B&W Gearless
47.00 Greece En bloc, scrubber-fitted
Genco Claudius 169,001 2010 Korea MAN-B&W Gearless
Key Guardian 83,468 2011 Japan MAN-B&W Gearless 23.75 Greece
Delivery after completion of surveys
Ocean Prince 76,423 2004 Japan B&W Gearless Xs 9.00 Undisclosed
due 01-2024
Thetis 57,981 2013 China MAN-B&W 4 CR 35 17.50 Undisclosed
Sifnos 57,050 2010 China MAN-B&W 4 CR 30 13.90 Undisclosed
Jiu Heng 56,956 2011 China MAN-B&W 4 CR 30 Xs 13 Undisclosed
Hony World 56,716 2012 China MAN-B&W 4 CR 30 14.70 Undisclosed
NZ Hangzhou 56,709 2012 China MAN-B&W 4 CR 30 - Greece
En bloc with Paradise Island reported
Pacific Integrity 56,100 2013 Japan MAN-B&W 4 CR 30 20.50 Germany
week 10-24
Straits Bay 55,840 2007 Japan MAN-B&W 4 CR 30.5 14.00 Undisclosed
Queen Busan 55,474 2010 Japan MAN-B&W 4 CR 30.5 17.00 Greece
Aspen 54,286 2009 China MAN-B&W 4 CR 36 9.00 Turkey
Omnia 36,787 2011 Korea MAN-B&W 4 CR 30.5 15.00 Greece
Asian Bulker 36,228 2017 Japan MAN-B&W 4 CR 30.5 24.00 Undisclosed OHBS
Rin Treasure 28,338 2009 Japan MAN-B&W 4 CR 30.5 9.30 Undisclosed

Tankers
Price
Name of Vessel Deadweight Built Main Engine Specs Buyers Remarks
in Mio. USD
Epoxy coated,
MTM Mississippi 51,182 2006 Korea MAN-B&W 17.00 Undisclosed
coiled
Epoxy coated,
Pacific Jewel 48,012 2009 Japan MAN-B&W 23.70 Undisclosed
coiled
Epoxy coated,
Acadia Trader 38,177 2004 Korea MAN-B&W 15.50 Undisclosed
coiled
DS Polaris (LPG) 23,256 1993 Korea B&W 20,269 CBM 12.00 Middle East

Containers
TEU Price
Name of Vessel Deadweight Built Gear Buyers Remarks
nom / 14ts / plugs in Mio. USD
Lyon II 77,946 2001 Korea 6,627 / 4,728 / 500 Gearless
40.00 Switzerland En bloc
Paris II 77,941 2001 Korea 6,627 / 4,729 / 500 Gearless

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 ANDREAS J. ZACHARIASSEN
Schiffahrtsgesellschaft mbH & Co. KG

Hamburg • Shanghai

Shipbrokers since 1933

Tweendecker / Singledecker / Reefer / RoRo / Passenger

Price
Name of Vessel Deadweight Built Type Decks / Gear Buyers Remarks
in Mio. USD
Single,
Sincere 5,418 2011 China General cargo - Undisclosed Ice class 1D
gearless

Demolition
Price
Name of Vessel Type Built Deadweight Lightweight Buyers Remarks
in USD / ldt
Yildizlar 2 Bulker 1996 Japan 49,865 10,347 - Bangladesh
Denak Voyager Bulker 1996 Japan 72,105 9,518 540 Bangladesh
Jahan Brothers Bulker 1994 Japan 43,648 8,032 - Bangladesh
Hong Yun You 19 Tanker 1999 China 6,413 2,579 - Bangladesh
LMS Laxapana Tanker 1986 Japan 3,283 1,205 - Bangladesh
MSC Rossella Container 1993 Korea 43,605 13,305 530 India 3,424 TEU; HKC green recycling
Arrow S Container 1974 Germany 3,318 1,560 - Turkey 243 TEU
Lian Feng 6 General Cargo 1999 China 22,279 6,537 - Bangladesh 1,100 TEU, ice class 1D
Bos Lina General Cargo 1991 Japan 11,695 3,287 505 India Tweendeck

Newbuildings
Price per Unit
Type Size Delivery Country Main Specs Buyers Remarks
In Mio. USD
Bulker 82,500 DWT 2026 China Scrubber-fitted 39.00 Japan 2 units
Bulker 66,000 DWT 2026 China - - Greece 2 units
8 units;
Bulker 64,000 DWT 2027/28 China Methanol dual fuel Rgn. 34.00 China
against long term t/c with Cosco
Tanker 320,000 DWT 2027 Korea - 130.00 Israel 4 units
Tanker (LNG) 175,000 CBM 2028 China - 238.00 China 2 units
2 units;
Tanker (LPG) 40,000 CBM 2027/28 China Methanol dual fuel 66.00 Greece
+ 2 opt.

The above information is collected from various market sources and is given in good faith, however, we cannot guarantee for its accuracy or completeness.

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