The newbuilding market’s positive momentum fizzled out last week, with fewer contracts being reported, as opposed to the activity in the S&P market. In its latest weekly report, shipbroker Allied Shipbroking said that there were “fewer sales to report than last week, though by no means a quiet week with contacting across the dry bulk, tanker, and ammonia/ LPG sectors. Wanlong Shipbuilding has received an order for up to 4 Kamsarmax vessels from compatriot owner Zhoulian Shipping, and the ships will be among the largest built by the yard, which typically builds smaller geared vessels. Across the strait, Taiwan Navigation has confirmed its order for 2 Handysize vessels, reports of which first circulated the market in November last year. The orders have been placed at Namura Shipbuilding, a yard with over 80% of its vessels on order belonging to the Handysize segment. Following the deliver of the only anticipated VLCC of 2024, owners are continuing to invest in a sector with slim fleet growth over the coming years. The latest such owner is Euronav, who have added a scrubber fitted, ammonia-ready vessel to their series at Qingdao Beihai and are thought to include options for further vessels”.
In a similar note this week, shipbroker Banchero Costa added that “activity slowed in the NB market due to the end of a very busy 2023 and the Chinese New Year holidays. The gas sector kept adding to the orderbook with more LPG/ammonia carriers. In the VLCC market Euronav exercised options at Qingdao Beihai for ammonia ready, scrubber fitted units for delivery in the second quarter of 2027, undisclosed price.
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In the dry bulk market Taiwanese owners ordered 2 x 82,000 dwt at Tsuneishi Zhoushan for delivery in 2026 and 2 x 40,000 dwt Handy at Namura for delivery in 2026 and a price in the low $32s mln”.
Meanwhile, in the S&P market, Allied added that “on the dry bulk side, the snp market changed momentum once again, with a relatively solid number of units being reported as sold. The front seat was sustained in the medium size ranges (mainly Panamax and Supramax), with age groups concentrated mostly in the more vintage classes. Moreover, it is clear now that asset prices have remained on an upward trajectory since the year start, and it is yet to be seen whether this can be reflected in a further gear up in transactions volumes. On the tanker side, the snp market has struggled to impress lately, given the thinner number of transactions coming to light during the past week. However, thinking about the general shifting momentum in reporting activity, we may well expect things appear more liquid in the near term, especially when considering the current turbulent scene from the side of earnings”.
Banchero Costa added that it was “an active week in the dry segment, starting from Panamax with the sale of the KERVEROS 76,000 dwt 2003 Imabari which was reported sold at $9.35 mln, while the ALPHA AFOVOS 74,000 dwt 2001 Daewoo was rumoured to Chinese buyers at $7 mln. On Supramax, the Japanese controlled TOMORROW 56,000 dwt 2013 Minami Nippon and KING BATON ROUGE 56,000 dwt 2014 Mitsui were rumoured sold at mid- $18 mln and $22 mln respectively. Apparently, they went to the same Greek Owner. It is worth to note that the latter is electronic engine fitted. Two box shaped Korean Handysize were reported sold: the RUI FU XING 37,000 dwt 2012 Hyundai Mipo was rumoured committed at $16.5 mln; Turkish interests were reported as the Buyers of the NORDIC LONDON 34,000 dwt 2010 TK Shipbuilding for $12.5 mln.
In the tanker market, the most notable sale of the week was undoubtedly the enbloc sale of five modern vessels made by Norway’s Viken Shipping AS. The vessels are: the MORVIKEN, BREIVIKEN, EIKEVIKEN, ANGLEVIKEN, ASKVIKEN which went to TEN at a rumored price of $357 mln. With regards to MRs, the LADY MALOU 51,000 DWT 2013 Hyundai Mipo was reported sold to undisclosed Buyers at $36 mln, while a one-year older vessel KING GREGORY 2013 Hyundai Mipo was sold at $34 mln. The FOS 48,000 DWT 2007 Iwagi was reported sold to Middle East Buyers at $ 22.5 mln. As a comparison, in March 2023, a sister vessel, SEAMUSE 48,000 2007 Iwagi was sold at $ 21.7 mln. Two Handy tankers: the PAPRIKA 40,000 DWT 2003 Hyundai Mipo and the OLYMPIC GLORY 37,000 DWT Hyundai Mipo were sold to undisclosed buyers respectively at $15.5 mln and $16.5 mln”, the shipbroker concluded.
Nikos Roussanoglou, Hellenic Shipping News Worldwide