More Container Ship Orders Materialize

A number of newbuilding contracts for container ships took place over the course of the past week. In its latest weekly report, shipbroker Allied said that “following several months of reports on the enquiries of the biggest container lines, the past week finally delivered orders from Maersk and CMA CGM along with news of Evergreen progressive its own very substantial order, which has not yet concluded but is to be for 24 vessels split between Samsung HI and Nihon shipyard. The contracts mark the first deal by CMA CGM in around two months and it adds 10 vessels to the 24 the company has already ordered this year. Maersk’s order represents their first orders of this year, following a widely reported LOI signed in May. The contract demonstrates the company’s commitment to methanol as a green fuel and complements their existing 15,000-16,000 TEU methanol fuelled vessels already on order, the 2,000 TEU ‘Laura Maersk’ that it has just taken delivery of, and their partnerships aimed at securing a steady supply of the fuel. Beyond the container market, the Klaveness Combination Carriers LOI reported in May has concluded and on a separate note, orders for three small tankers have been placed at Chinese yards”.

In a similar note, shipbroker Banchero Costa added that the “newbuilding market continues to thrive with 31 new contracts registered during the past week. Orders in the bulk segment take the lead. German shipowner Vogemann turned out to be behind the order of four Capesize vessels with delivery 2026 at a price of USD 63.5 mln /each and four Kamsarmax at a price of USD 34.5 mln /each from Hengli Heavy Industries. Hegli is also involved in a negotiation with TMS Dry for 10x Kamsarmax (the Greek shipowner recently ordered four Capesize at Cosco shipyard in Yangzhou for 64 million each). After ordering 4x 40,000 dwt openhatch BCs from Jiangmeng Nangyang in August 2022, Ciner Shipping has exercised the attached options bringing the order to a total of 10 vessels priced around USD 29 mln /each with deliveries running until 2027. Danish shipowner Norden ordered six Ultramax BCs at Dalian Cosco KHI for delivery over 2-3 years. Price remains undisclosed. Tanker orders are slowing compared to previous weeks. However, it’s worth highlighting the order placed by Mitsui & Company at Hyundai Mipo for four MR2s at USD 47 mln /each. On the smaller sizes, Japanese owner Nakagawa Bussan ordered two 6,600 dwt chemical tankers for delivery 2025 (price undisclosed)”.

Meanwhile, in the S&P market, Allied said that “on the dry bulk side, the volume of transactions resumed on a tighter mode that has taken hold of the overall SnP market for some time now. Rather in line to this, asset price levels have remained on a negative track, reaching new levels that will nourish some fresh interest yet again. For the time being, only Panamax size segment has indicated some sort of positive trend in terms of activity as of the past month or so. Moreover, given the current freight market, it would be hard to see activity shifting considerably, especially amidst the summer period.

On the tanker side, the tardy period was sustained for yet another week, given the small number of vessels being reported as sold. Given the current liquidity levels, it seems rather obvious that buying appetite has been excessively stagnant, especially at this asset value regime”.

Meanwhile, Banchero Costa added that it was a “pretty active week in the dry market, especially for modern eco tonnage: Starting from kamsarmaxes, the AQUAVITA SKY 81,000 dwt 2019 Jiangsu Hantong is rumoured sold at USD 32 mln to Korean Owners, while the same year built JY HONG KONG 81,000 dwt Chengxi has been sold on commercial auction; on the 21st of June the sistership JY PACIFIC has been sold at USD 28.76 mln. Japanese Owner Kambara Kisen is rumoured having found a buyer for its kamsarmax RIKKE 82,000 dwt 2016 Tsuneishi Zhoushan: it seems that Hellenic Star has bought the Vessel for USD 27 mln. Same Owners have been also reported having sold the KK PROGRESSION 64,000 dwt 2018 Tsuneishi Cebu at rgn USD 18 mln, still to Greek buyers. On smaller size, UAE based owner Tomini Shipping is rumoured having sold the TOMINI BORA 38,000 dwt 2016 Zhejiang Ouhua to a Greek Owner for USD 19.65 mln”.

In the tanker market, the shipbroker added that “in the past week, few transactions have been recorded in the tanker segment. Especially larger ships changed owners, starting from the VLCC LULU 316,507 dwt 2003 Hyundai which was sold to Chinese buyers for USD 42.5 mln. For comparison, about a month ago, the GOOD NEWS 319,430 dwt 2002 Samho had been purchased at USD 43 mln. On the other hand, the more modern and BWTS fitted ATHENIAN GLORY 300,000 dwt 2011 Hyundai is reported sold to Greek interest for USD 66 mln. Furthermore, Infinity Ships has been mentioned as the Buyer of the Suezmax SONANGOL KASSANJE 158,706 dwt 2005 Daewoo (BWTS fitted) which was purchased at USD 37 mln. Back in May, the CLASSIC 159,195 dwt 2005 Hyundai (BWTS fitted) had been sold for slightly less, USD 36.75 mln. Finally, moving on to Aframax tankers, UAE buyers seem to be behind the purchase of the PRO TRIUMPH 105,000 dwt 2009 Hyundai, reported at USD 39 mln. The 1yrs older sister vessel, PRO ALLIANCE 105,000 dwt 2008 Hyundai, was previously sold in April for USD 37.5 mln”, Banchero Costa concluded.
Nikos Roussanoglou, Hellenic Shipping News Worldwide