Monthly Report of Ship Auction Market

April 2024
Total of the Ship Auction
In April, the trend of the international dry bulk shipping market experienced Ship Auctions Bulk Carriers Chemicals & Tankers Total

divergent trends, the Capesize and Panamax were generally stable with 200

minimal changes in daily rental. The market of Supramax and Handysize

performed actively, the daily rentals of the Atlantic basin rose while that 160

of the Pacific basin was stable. The coastal shipping market entered its 120

traditional off-season, and the recent rainy weather nationwide led to a

surge in the proportion of hydropower and subsequently reduced demand 80

for coal shipping. In terms of the ship auction market, the number of ship
40
auctions has rebounded, and the transaction price has risen month-on-
month, but the increase was not as significant as that seen last year. There 0
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were 39 ships auctioned in April and 19 were sold, with transaction rate of
Total of Starting and Transaction Price of
48.7%. The total starting price was ￥193.13m, and the total transaction
Ship Auction
price rose to ￥111.91m.
Million ￥ Total Starting Price Total Transaction Price
2200

Ships trading in both domestic and foreign outflow, and 2000

coastal market was still quiet. 1800

1600

In April, the number of ships trading in both domestic and foreign switching 1400

1200
to foreign routes increased rapidly as the international market heated up, 1000

while the coastal domestic trade freight rates remained sluggish. According 800

to data from SHIPBID.NET, in China, the total ship auctions in April were 39, 600

400
which increased by 14 MOM but decreased by 53 YOY. Among them, bulk 200

carriers numbered 3, which decreased by 1 MOM, and tanker was 2, which 0

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increased by 1 MOM. In terms of transactions, there were 19 ships sold,

which increased by 13 MOM but decreased by 14 YOY, with transaction rate Different Segments of Ship Auction in China
rising to 48.7%.
Transaction price increased from previous month, yet it has undergone a Bulk Carriers

significant decline from last year's levels. In April, the total starting price
was ￥193.13m, which increased by ￥56.62m MOM but decreased by Tankers

￥483.88m YOY. The total transaction price climbed to ￥111.91m, which

increased by ￥102.82m MOM but decreased by ￥333.46m YOY.
Engineering
Ships

Ro-Ro
Passenger
Ships

Fishery Ships
Ship

The domestic shipping market exhibited sluggish growth, 0 0.5 1 1.5 2 2.5
Auctions

and the enthusiasm of ship trading remained low.

In April, the daily consumption of eight coastal provinces fell to 1.84 million tons, while the inventory hovered at a peak of approximately
33.24 million tons. The growth of coal demand was weak, prompting significant price drops for coal procured by major coal enterprises,
which triggered a surge in pessimism sentiment in the market and the terminal procurement only maintained routine long-term
agreements. Moreover, the cost of imported coal remained high at the end of the April, prompting some necessary procurements to shift
towards the domestic market. Consequently, shipping activity remained flat compared to the previous month.
In terms of judicial auctions, April saw 4 ships auctioned, of which 1 was sold. The total starting price amounted to ￥62.794m, and the
total transaction price was ￥3.35m. As for commercial auctions, there were 35 ships auctioned, of which 18 were sold. The total starting
price was ￥130.33m, and the total transaction price was ￥108.56m. This month, the ship auction market improved slightly, but the
overall market was still weaker than last year. The number of judicial auction has not changed much, while that of commercial auction has
rebounded.
Followed were some specific auctions. In terms of bulk carriers, Supramax “DAYANG ORIENT” sold at $12.66m; while no tanker was sold in
April. As for other ships, there has been 1 fishery ship sold for ￥2.176m; 2 ro-ro passenger ships sold for ￥1.9324m;2 engineering ships
sold for ￥3.9669m; 11 batches of containers sold in total for $1.643m.

1. The data comes from various auction platforms, public bidding platforms of property rights exchanging market and ship exchange market etc. with a few
live auctions may not be included in due to limited publicity.

1
Samples of Ship Auctions
Bulk Carriers
DWT/
Starting Transaction
NO. Ship Name Sailing Area Reference Year Built Shipyard Bids
Price Price
capacity
Unrestricted
1 DAYANG ORIENT 56830 2011 China $10.5M $12.66M 30
navigation

Preview of Ship Auctions

Bulk Carriers
DWT/
NO. Ship Name Sailing Area Reference Year Built Shipyard Starting Price
capacity
1 XINYIHAI 2 Coastal 22000 2008 ZheJiang ￥19.5M
Unrestricted
2 AGRI BRIGHT 76431.53 2013 ZheJiang $17M
navigation
Unrestricted
3 SEACON 8 56785.16 2012 ZheJiang $12.77M
navigation