Ship owners have kept investing heavily in newbuildings over the course of the past week. In its latest weekly report, shipbroker Allied said that “contracting activity continued at a decent pace last week as owners aim to secure 2025 delivery slots despite rising newbuilding prices. Following the recent boom in orders, owners attention appears to be shifting slightly away from container vessels and gas carriers, as bulkers and tankers account for an increasing number of deals – around 75% of orders last week. Chinese yards dominated these sectors, with just four MR vessels ordered in South Korea and one Ultramax at Cochin Shipyard in India. Vogemann have returned to Hengli with an order for four Capes, in addition to their four Kamsarmax order last month. The revived yard has had a good year so far, picking up 12 Kamsarmax orders and now its first Capesize order. Continuing with the dry bulker orders, J Lauritzen has returned to Tsuneishi and ordered an additional Methanol DF Kamsarmax, taking its total at the yard to three vessels. In the tanker sector, Wuhu Shipyard picked up two high-spec, environmentally friendly small tankers from Swedish owner Donsotank Rederi. The yard is a popular choice for small tanker newbuildings with 16 ordered this year, including options”.
In a separate note this week, shipbroker Banchero Costa said that it was an “interesting week with mixed NB business concluded across different sectors. The tanker market remains active though the number of new orders is slowing with only a few options being declared. Similarly in the dry bulk only 2 major players declared options, specifically Bocimar for Newcastlemax design 210,000 dwt at Qingdao Beihai price reported $66 mln apiece and Lauritzen which strengthen further his commitment with Cargill and declared a 3rd methanol fuelled Kamsarmax at Tsuneishi which will be chartered for several years contract.
Two unknown (yet) counterparts selected Hengli Heavy Industries (ex STX Dalian) for the construction of respectively 4 x 82,000 dwt and 4 x 180,000 dwt bulkers. So far we do not have specific details about prices and deliveries. The container market revived with a rumoured major order for up to 24 NeoPanamax 8,000 teu for Evegreen which selected Nihon Shipyard and Samsung for the order. The ships are dual fuel configuration and deliveries are set for 2026 and 2027. The price per ship is estimated around $175 mln based on very high specifications”.
Meanwhile, in the S&P market, Allied commented that “on the dry bulk side, the uninspiring trajectory in the SnP market resumed for yet another week, given the tighter number of units being reported as sold. Rather in line to this, asset price levels still remain under negative pressure, with buying appetite seemingly unable to prevail more stable. Moreover, given the current freight market regime, it will take some time before we witness a more robust flow of transactions coming into effect. On the tanker side, the recent sluggish phase was sustained during the past week as well, with a limited number of sales coming to light. As we have mentioned, we may well have reached a mature state in buying interest, especially in current asset price levels, that may add some periodical liquidity pressure on the market”.
Banchero Costa added that in the dry bulk market “starting from the Capesize segment, the ATLANTIC TIGER 180,000 dwt built 2006 Imabari was reported sold to Greek Buyers at $17 mln, back in March the slightly smaller CHS Splendor was sold to Middle Eastern Buyers at $17.7 mln. In the Kamsarmax sector, after the sale of the JY BULK last week, BOCOM leasing has now sold at auction the JY PACIFIC 81,000 dwt built 2019 Chengxi for the price of $28.76 mln: the winning bidder remained undisclosed. The Japanese-controlled SANTA CRUZ 83,000 dwt built 2022 Sanoyas is rumoured sold in the low $18s mln to Greek Buyers and the Panamax PRABHU PUNI 76,000 dwt built 2002 Tsuneishi was reported sold at $9.65 mln to Chinese interests. The 2 x Avic Leasing controlled Ecotype Ultramax GEMINI CONFIDENCE and VIRGO CONFIDENCE both around 63,000 dwt built 2019 New Dayang are rumoured sold en bloc at $27 mln each. Last month Avic sold two sisterships the TAURUS CONFIDENCE and the ARIES CONFIDENCE at $27.9 mln for dely end of 2023. The COMITY 37,000 dwt built 2010 Huatai was reported sold to undisclosed buyers at $12.8 mln”.
In the tanker market, “after a quiet week, s&p activity returns to normal with several ships reported sold. Starting from the Suezmax segment: the most notable sale involves the modern scrubber fitted ELANDRA OSPREY 157,000 dwt built 2018 Hyundai Samho reported sold to undisclosed buyers at region $75 mln. The Aframax WONDER MUSICA 106,000 dwt built 2004 Hyundai was sold at $28.5 mln to undisclosed buyers. After selling its entire fleet of LR1, and raising close to $120 mill, Dubai based owner Gulf Energy Maritime was reported to have sold its MR2 GULF JUMEIRAH 46,500 dwt built 2007 Hyundai (SS due) at $23.5 mln. On smaller sizes, RT STAR 28,000 dwt built 2011 Shin Kurushima was reported sold to undisclosed buyers at $24 mln”.
Nikos Roussanoglou, Hellenic Shipping News Worldwide