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Container and LNG Ships the “Pick of the Bunch” for Newbuilding Orders

The container and LNG shipping segments continue to dominate newbuilding orders and filling up slots. In its latest weekly report, shipbroker Allied Shipbroking noted that “the sentiment of the newbuilding market continued to follow its upward trend with the containership sector holding the dominant role in terms of fresh projects, with its lucrative returns still providing ample ground to entice further investment as most perceive these markets as holding longer than initially perceived. This positive market regime is also reflected in the current containership prices which are at holding at five year highs. The same price trajectory is observed in the gas carrier sector for which three fresh projects came to light this week, giving an extra vivid tone to the already existing positive momentum. In addition, the even bigger boost in the shipbuilding market was also given by the dry bulk sector and more specifically in the smaller segments, with the order for 10 Ultramax vessels at a Chinese yard at firm price levels. The absence of the placement of new orders for some time combined with the encouraging secondhand values and the positive freight market momentum are all bullish factors that have contributed to the dynamic reemergence of this sector in the shipbuilding market”, Allied said.

Source: Allied Shipbroking

In a separate weekly note, shipbroker Banchero Costa noted that “in the Container segment MSC placed an order for a total of 28 Panamax container units abt 8,000 teu with value of the investment to be around $3.4 billion. All vessels are going to be LNG dual fuel and 14 to be built at New Times, 8 at Qingdao Beihai and other 6 at Hyundai with deliveries expected to be in 2024-2025 Furthermore, MPC Containers agreed with Hanjin to build 2 x 5,500 teu with delivery during 1st half 2025 at $72.2 mln each. Vessels will be chartered for 7 years to ZIM. Drybulk For dry bulk, Bocimar will build 2 additional Newcastlemax (abt 210k dwt) at Qingdao Beihai (total of eight vessels) with deliveries during 2024. Also in China Dalian received an order for 10 x ultramaxes abt 65k dwt from CITIC Financial Leasing, price to be around $31.5 mln each. Greek owner Metrostar Management agreed with Hyundai Vinashin to build two plus optional one LR2 (abt 115k dwt) per unit price was $56.8 mln. Delivery during 1st half of 2024. LNG In the gas business, China Merchant Energy agreed with Dalian to build 2+2 optional LNG carriers abt 175k cbm. Vessels to be delivered during 2025”, the shipbroker said.

Meanwhile, in the S&P market, Allied commented that “on the dry bulk side, the market continued its positive trend with buying appetite expanding to many segments of the dry bulk sector and going beyond a central focus on the handysize segment, as witnessed during the previous week. Prices continue to firm, while given the continued improving sentiment noted in the freight market, further price hikes may well be in sight during the coming weeks as buying interest amplifies. On the tanker side, things shifted over to a more positive tone this week, as the number of transactions carried out far exceeds those witnessed in previous weeks. Compared to the rest of the segments, buying interest seems to have centred around MR units which along with Aframaxes seem to offer the most promising developments in the freight market right now. Buying activity was also noted in VLCC and Suezmax segments, but at more subdued tones , likely due to the higher asking prices seen amongst potential sellers of late”.

Source: Allied Shipbroking

Similarly, Banchero Costa added that in drybulk “Chinese Buyers purchased a fleet of Maran 8 x 114,000 Bulkers blt 4 x 2011, 1 x 2012 1 x 2013 2 x 2014 at Shanghai Shipyard for $200 mln enbloc. In the tanker market, “the VLCC Tokyo 306,000 dwt Blt 2005 Mitsubishi went to Chinese Buyers for $31 mln, while the Eastern Jupiter 305,000 dwt Blt 2007 Daewoo has been reported sold to undisclosed for $38.5 mln. 2 x Suez 17 February 160,000 dwt Blt 2008 Samsung and Libya 159,000 dwt Blt 2007 Hyundai Heavy reported sold to Norwegians for $46 mln enbloc”, the shipbroker concluded.

Source: banchero costa & c s.p.a

Nikos Roussanoglou, Hellenic Shipping News Worldwide

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