Japan’s San-E Maritime sets benchmark price for supramax bulker as they sell their last ship

San-E Maritime Corp of Japan has reportedly sold its last ship, the supramax Queen Busan, to an undisclosed buyer for $17.15m. The 55,000-dwt bulk carrier, built in 2010 by Kawasaki Heavy Industries, has set a new price benchmark for mid-age supramaxes, according to shipbroker Fearnleys. This sale comes after San-E sold the 55,400-dwt Queen Kobe, built in 2009, to Karya Samudera Insani of Indonesia earlier this year for $15m.

VesselsValue data shows that supramax values have been steadily increasing since the beginning of the year, indicating a positive trend in the market. The sale of Queen Busan by San-E Maritime Corp is seen as a significant transaction in the industry, reflecting the strong demand for mid-age supramaxes. The sale price of $17.15m for the 2010-built bulk carrier is seen as a notable achievement in the current market conditions.

The sale of Queen Busan by San-E Maritime Corp marks the end of the company’s ship ownership, with brokers noting the significance of this transaction. The increase in supramax values throughout the year suggests a favorable market outlook for mid-age bulk carriers. The sale of Queen Busan has been widely reported and is seen as setting a new price benchmark for similar vessels in the industry.

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