Newbuilding activity has kept its momentum over the past week, while S&P deals seem to have dropped off. In its latest weekly report, shipbroker Allied Shipbroking said that “activity in the newbuilding sector remained on a similar level to the previous week, with deals concluded for around 15 new vessels. Dry bulk orders returned after two weeks of silence thanks to domestic orders placed with Chinese builder Nantong Xiangyu Shipbuilding. These orders are in-line with the preference for Ultramax vessels established throughout the first two months of year, in which over 50% of dry bulk carrier contracts were for this size group, and bring bulker orders almost to the level of container vessel orders seen so far this year. If the current positive sentiment in the dry bulk market persists, we might expect to see dry bulk orders continue to grow relative to container vessel orders, particular as a considerable number of deliveries are expected for the latter against a backdrop of falling earnings. NYK Line ordered three large LNG carriers amid expectations of growth in this sector. So far this year there have been almost twenty additions to the gas carrier orderbook. There were no altfuelled orders last week, although the world’s largest doubleended ferry has just been delivered to P&O Ferries, equipped with batteries for clean-operation in port areas”.
In a similar note, shipbroker Banchero Costa added that “Japanese yards seem to be able to offer some earlier deliveries compared to other yards and this has been attracting attention: Shoei Kisen was reported behind the order of 4 x 51,000 dwt MR2 from Minami Nippon all with delivery in 2025, no price reported. Interesting order in China from Vogeman; the German owner booked 4 x 40,000 dwt bulk carriers from Yangzijiang Shipbuilding, to be delivered in 2024.
- Sponsored Ads -
Tanto Intim Line ordered a 3 x 60,000 dwt Ultramax from Nantong Xiangyu; these vessels are in addition to another 3 ordered by the Indonesian Owner at Penglai Zhongbai Jinglu. In the tanker market, the French Owner SOCATRA was reported at letter of intent stage with China Merchants (Jinling) for the construction of 2 + 1 x 18,000 dwt chemical tankers. In the gas segment, Mitsui OSK booked a 174,000 cbm LNG carrier from Daewoo for a price of $246mln, delivery scheduled July 2027”.
Meanwhile, in the S&P market, Allied commented that “after a couple of strong weeks, the secondhand sales market has slightly subsided for the majority of sectors. Despite the declining trend of transactions, buying appetite in dry bulkers remained at high levels. Last week saw almost all transactions dominated by smaller vessels, specifically Supramax and Handysize sharing the market, except for a hefty en-bloc sales of four Panamaxes. In terms of ships’ vintage, the vessels changing hands averaged at 11 years old. In the tanker market, things were muted compared to the numerous transactions posted in the weeks prior. As usual, buyers focus was mostly revolved around product tankers, with only one sale for a VLCC. Interestingly enough, the average age of vessels changing hands last week climbed to 17, a higher-than-usual number even for the tanker market”.
Banchero Costa added that “various sales in the bulk sector, especially Supramax tonnage. Eagle Bulk kept on with its fleet modernisation process selling the JAEGER 52,000 dwt built 2004 Tsuneishi Cebu (BWTS fitted) at $9mln to Turkish buyers. Another Tsuneishi Cebu-built vessel the SUN GLOBE 58,000 dwt 2007 (BWTS fitted) was sold at $14.1mln to Chinese buyers. The Handysize market saw the sale of the LANCASTER STRAIT 37,000 dwt 2013 Hyundai Mipo to German buyers for low $16mln with TC attached. The HONG KONG SPIRIT 32,000 dwt 2011 Taizhou was sold for $10.7mln to undisclosed buyers. Tanker Quite an active week especially on the larger units.
The Suezmax sector recorded the sale of another unit by Avin. The Greek shipowner kept selling older tonnage, this time it was the KRITI DIAMOND 167,000 dwt 2004 Brodosplit sold for $35mln to undisclosed buyers. Avin purchased the vessel in 2018 for a price around $16.5mln. The Indian-based Gatik Shipmanagement added the CAP CHARLES 158,000 dwt 2006 Samsung (BWTS fitted) to its fleet, now close to 50 vessels, for $41.5mln. Atlas Maritime sold 2 x Aframax Newbuildings en bloc: Galveston Star and Delaware Star 115,000 dwt 2023 Daehan (BWTS fitted) went to Libya’s state-owned General National Maritime Transport Co (GNMTC) for $152mln. The two vessels were part of an order of five Aframaxes placed by Atlas in November 2020 for a reported $45/46mln per vessel”.
Nikos Roussanoglou, Hellenic Shipping News Worldwide
- Sponsored Ads -