Friday

06-06-2025 Vol 19

Ship Owners Cautiously Reduce Investments Amid Ongoing Global Economic Uncertainty, Reports Reuters AP Newsletters

Shipowners are currently showing caution in their investment strategies due to ongoing global economic uncertainty. This trend is evident in the recent activity within the Sale and Purchase market, particularly in the dry bulk sector. Shipbroker Xclusiv reported several notable transactions involving vessels from various classifications. In the Capesize segment, Greek buyers acquired the “Imperator Australis,” a 176,000 dwt vessel built in 2012, for $25.5 million.

The Panamax market also saw activity, with the “Toro,” a 77,000 dwt ship from 2008, changing hands for $12.2 million. Additionally, the Supramax sector witnessed the “Ingwar Selmer,” a 58,000 dwt vessel from 2011, sold for $11.6 million. Notably, Chinese buyers purchased two scrubber-fitted Supramax vessels, the “Oriole” and “Star Petrel,” for $12.8 million and $12.5 million, respectively. On the Handysize front, the “Bunun Orchid,” a 38,000 dwt vessel built in 2021, was sold for around $25 million, while the “ID Pioneer,” a 36,000 dwt ship from 2012, fetched $10.1 million.

In the wet sector, the LR1 “Chemtrans Adriatic,” a 74,000 dwt vessel from 2005, was sold for just over $10 million. The MR2 sector was particularly active, with five out of six reported sales, including the en bloc sale of “Nord Joy” and “Nord Jewel,” both 50,000 dwt, for $74 million. Additionally, Banchero Costa highlighted transactions in the bulk market. The Capesize “Imperator Australis” was sold for $24.8 million to Chinese buyers, while the Kamsarmax “Key Action” went for $15.1 million.

There were also reports of various other sales in the Ultramax, Handysize, and Container sectors, indicating a mixed but cautious market response as shipowners navigate economic challenges.

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