Tanker Newbuilding Orders Gather Pace

Tanker newbuilding orders have been on the rise, as owners feel more confident to invest, given the record low orderbook. In its latest weekly report, shipbroker Allied said that “a rather interesting week for the newbuilding market took place, with a fair number of fresh projects coming to light during the same time frame. Yet again, we noticed the tanker sector taking the leading role in terms of activity. Thinking about the general robust sentiment in this market, we can expect this trend to keep hold in the near term. On the dry bulk side, we witnessed a fair buying appetite, that has been translated into a couple of new orders by Greek interests. Here though, given the prolonged pressure in freight rates, we can anticipate a quite period to emerge in terms of new ordering, especially under the current asset price levels. All in all, as we approach closer to the peak summer period, things are likely to hold at a more sluggish pace”.

In a similar note, shipbroker Banchero Costa said that “during the week new building interest was focused mostly on tankers. In China New Times Shipyard received an order for 2 + 4 VLCC from Magni Partners. The vessels were reportedly priced $138 mln each and they will be delivered from 2026. JP Morgan placed an order for 2 x 50,000 dwt MR2 at GSI; the vessels will be dual fuel methanol and will be able to carry methanol.

Deliveries during 2H 2026, the price rumored was in excess of $50 mln each. Wuhu Shipyard was awarded 2 x 6,600 dwt stainless steel chemical tankers, dual fuel propulsion from Norwegian Owners RFOcean, deliveries during 2026. In Japan Advantage Tanker placed an order at Nihon Shipyard for 2 x Suezmax. No price emerged so far, vessels to be delivered during 2nd half 2025. South Korea’s DH Shipbuilding received an order for 1 x LR2 from MJL Bangladesh. The vessel price reported at $74 mln, delivery in 2026”.

Meanwhile, in the S&P market this week, Allied said that “on the dry bulk side, things did not escape from the recent mediocre levels, with the number of vessels being reported as sold appearing relatively limited. Across the different size segments, we noticed a positive trend in terms of 4-week activity movements for both Panamax and Handysize markets. Given that we are amidst a typical quiet period, we can hardly expect things to shift considerably at this point, with asset prices most probably remaining under pressure at the same time. On the tanker side, buying interest has prevailed at improved levels as of the past week, given the slight increase in number of transactions during the same time frame. On the other hand, given the ongoing robust sentiment, we can expect an improving situation to take shape in the upcoming period, especially after the peak summer period”, the shipbroker noted.

Banchero Costa added that “slower activity last week due to the holiday season. In the dry bulk sector H Line committed the eco type Dalian HL PASSION 180,000 dwt built 2015 for a price between $35.9 mln to $36.5 mln to Greek Buyers. A few major names were rumoured as potential taker, but officially no name emerged so far. NYK controlled SHIOSAI 177,000 dwt built 2007 Namura invited offers last week and she is now reported sold for a price in the range of $20.5/21 mln: a good price supported by last week increase of the FFAs.

In the Supramax sector we highlight the difference between Chinese and Japanese tonnage with the following 2 sales: the RHL MARTA 53,000 dwt built 2007 Chengxi was sold at $10 mln and the JENNY M 56,000 dwt built 2007 Mitsui for region $12.5 mln. Not much happening on tankers, In an official press release Imperial Petroleum was reported selling the LR2 STEALTH BERANA 115,000 dwt built 2010 Samsung for $43 mln to an affiliated company. In the product tanker sector the dirty trading PHOENIX HILL 47,994 dwt built 2003 KOYO DOCKYARD (CAP1 / SS-DD due) was reported sold for a price below $15 mln”.
Nikos Roussanoglou, Hellenic Shipping News Worldwide