SALE & PURCHASE

摘要

We have seen a notable increase in the number of transactions in the dry sector, following the latest spike in respective rates and subsequent confidence in the market. It should be underlined that the COVID-19 clause continues to create new challenges for buyers and sellers with many new variations of this clause being circulated. It is going to take some time for the counter-parties to feel more comfortable with this addition. After a few months of discussions, an agreement was reached culminating in a stock exchange announcement, that clients of Tata Power have sold three Capesize units for $212.76m against a long term freight agreement. Whilst the specifics of the charter agreement are not yet fine tuned to the wider market, it is known that clients of Oldendorff Carriers are behind the deal. The units include the "Trust Amity" (209,325 dwt, 2016, Jiangsu New Yangzijiang), the "Trust Agility" (180,585 dwt, 2011, STX) and the "Trust Integrity" (180,556 dwt, 2011, STX). Elsewhere in the sector, the "Cape Agnes" (181,458 dwt, 2010, Koyo) sold in an off market JV between Japanese parties, which saw one of the two partners buy out the other for around $18m. Due to the structure of this deal, it is not a "market sale". Additionally, the Taiwanese controlled "New Stage" (176,877 dwt, 2008, Namura) was finalised to Greek buyers for $16.3m. Furthermore, the "Aquaglory" (171,015 dwt, 2003, Sasebo) went to Chinese interests at $9.5m, whilst the "Alpha Era" (170,387 dwt, 2000, Sasebo) also changed hands to Chinese buyers for mid/high $7m.