By Antonis Tsimplakis

 

 

The secondary market of ships shows high growth rates with Greek shipowners playing a leading role both as buyers and as sellers.

 

In the first quarter of 2024, purchase and sale agreements of approximately 500 ships, with a capacity of more than 36 million dwt, were recorded based on domestic shipping companies.

 

In the same quarter last year, 434 ships with a tonnage of over 32.5 million dwt had changed hands.

 

According to shipping brokerage Xclusiv Shipbrokers, prices for bulk carriers of all ages and sizes rose 1%-39% year-on-year in April, while those for tankers were up 7%-28% during the same period.

 

The only exception are the 15-year-old super-tankers (VLCCs), whose prices are down 5% compared to last year.

 

Bulkers

 

At the same time, in another purely Greek deal, Ecocarriers Maritime has reportedly sold the supramax Ecoocean (capacity 55,636 dwt and built in 2011) to Graham Shipping, based in Voula.

 

Brokers are quoting a price of around 18.2 million dollars, up significantly from the 15.8 million dollars paid about a month ago for the same type, but a year older Konrad Schulte.

 

This is said to be Graham Shipping’s second vessel to join its fleet after the supramax Asl Fortune (58,096 dwt and built 2012), which has already been renamed Stella L. Brokers reported in early April that the vessel changed hands for 19.3 million dollars.

 

Tankers

 

Deals have also been recorded in the tanker market. The identity of the new buyer of the LR2 Aurviken oil product tanker (112,802 dwt capacity and built in 2019), which was sold at the end of March, has been revealed in recent days.

 

According to shipping databases, the vessel recently changed its name to Aldebaran and is now located in the fleet of the Greek interest Eurotankers.

 

As “Naftemporiki” had reported at the beginning of April, the auction for the ship attracted a double-digit number of buyers, with the final price was set at 73 million dollars, a particularly high level.

 

At the same time, Spring Marine is proving to be a keen buyer of second-hand tonnage. Shipping sources link the company to the purchase of the LR1 tanker Alpine Persefone (capacity 74,269 dwt and built in 2008), paying 30 million dollars.

 

The Greek shipping company has strengthened its fleet with three more tankers from the secondary market during this year. More specifically, three chemical/product tankers built in 2008-2009.