Second-Hand Ship Deals Fading Away

The S&P market has slowed down over the past few days, as a result of the uncertainty created from the USTR proposal, with owners reluctant to commit to new deals. In its latest weekly report, shipbroker Xclusiv said that “the USTR proposal seems to have affected S&P activity y-t-d, as weekly data reveals a decrease in the volume of transactions involving Chinese-built vessels. So far this year, a total of 220 bulk carrier vessels (>= 10,000 DWT) have found new ownership. Of these, 56% were Japanese vessels, while the share of Chinese-built vessels was 32%, a significant reduction compared to the same period in 2024 when 42% of total bulk carrier sales were Chinese-built vessels. This week, Chinese buyers acquired the Capesize “China Progress” – 174K/2006 SWS for USD 17.5 mills. On the Kamsarmax sector, the “Shun Fu Da” – 82K/2006 Tsuneishi was sold for USD 11.4 mills. 2x Ultramax vessels, the “Maplegate” – 63K/2019 Iwagi and the “Oakgate” – 60K/2018 Oshima were sold enbloc to Indonesian buyers for USD 62-63 mills basis buyer’s being awarded a tender. On the same sector, the “Amis Wisdom III” – 62K/2011 Shin Kasado was sold for USD 17.5…