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Deals for Newbuildings and Second Hand Vessels Picking Up

Shipbrokers’ reports this week have been flooded with more deals in both the newbuilding and S&P markets. In its latest weekly report, shipbroker Allied Shipbroking said that “this week brings fewer fresh orders than we have seen recently but still contains several substantial orders. In the tanker sector, we see continued momentum for VLCC contracting, with another dwt 320k duo being added to the size segment’s orderbook. The contracts come with an option for the vessels to be LNG DF, continuing the pattern seen this year for alternatively fuelled vessels in this size segment. Up to 4 shuttle tankers have been contracted and although pricing is unknown, a rough guide could be taken from Maran’s c. $130m p/v shuttle tanker order last month. On the bulker side, there are only updates from Star Bulk who have announced the extension of their series of Kamsarmaxes at Qingdao Yangfan to five vessels. The week also brought news of the first new boxship contracts of the month, with Danaos contracting 2 vessels from Jiangsu new Yangzijiang and Delphis a single vessel from Qingdao Yangfan”

Source: Allied

In a similar report this week, shipbroker Banchero Costa added that “substantial business concluded in the Newbuilding market during the Chinese New Year celebrations. Tanker orders continue to flow, pushed by owners faith in a strong market in the upcoming years: U.K. based fund Hayfin Capital Management exercised the option for 2x 158,000 dwt suezmax tankers at Hyundai Ulsan, to be added to the two already on order at the Korean yard, at the price of $85.5 mln and to be delivered in 2027. Knutsen NYK Offshore Tankers booked 3x more suezmax shuttle tankers at COSCO Zhoushan, where it had already two units on order for delivery between 2024 and 2025; the three new units will be delivered between 2026 and 2027 and the rumoured price is around $100 mln for each vessel, which will be fitted with DP2 for dynamic positioning offshore.

Source: Banchero Costa

Chengxi Shipyard received an order for 4x 50,000 dwt product carriers, to be jointly owned by Chinese Owner Seacon Shipping and CSSC Shipping; while the deliveries are scheduled for 2025 and 2026, the price is still undisclosed. On the dry side, Greek Owner Star Bulk Carriers is reported having added 3x 82,000 dwt kamsarmax vessels at Qingdao to the two already on order at the Chinese yard; deliveries are stemmed from 2026 to 2027. In the containership market, Danaos Corporation, Greece, booked 2x 8258 TEU vessels at Yangzijiang Shipbuilding, bringing to four the total number of vessels ordered at the Chinese yard. The vessels are priced $94.2 mln each and will be dual fuel methanol or LNG ready, to be delivered in 2026 and 2027”.

Meanwhile, in the S&P market, Allied noted that “on the dry bulk side, things slowed down considerably after the relative frenzy of the week prior, with the number of transactions coming to light notably thinner. On the other hand, we continue noticing strong buying interest across the different size segments, and asset classes in general. This, coupled with the upward pressure in asset price levels (especially for the biggest sizes), may well indicate an interesting snp market taking place in the near term. On the tanker side, overall activity being reported seemed to be relatively steady on a week-on-week basis, with the MR market maintaining the front seat in the snp market, having skewed the volume of deals on its favor. At the same time though, the Suezmax market took a modest step forward, with some vintage units sold”.

Source: Allied

Banchero Costa added that it was “a very busy week for dry tonnage with many substantial sales reported. Greek Owner Neda Maritime was reported behind the acquisition from Norwegian-backed Owner 2020 Bulkers of the two sisterships BULK SEOUL and BULK SHANGHAI 207,000 dwt 2019 New Times for the price of $127.5 mln enbloc. Arcelor Mittal was reported having sold its three PostPanamax sisterships AM TUBARAO (2011), AM GHENT (2011), and AM POINT LISAS (2010) 93,000 dwt Jiangsu Newyangzi for about $44 mln enbloc, apparently to Chinese Buyers. Still Chinese were rumoured as the buyers of the VINCENT TRADER 81,000 dwt 2019 Jiangsu Hantong for $31,3 mln, basis T/C attached until June 2024. The Turkish owned eco-engine Ultramax ZEYNO 63,000 dwt 2014 Yangzhou Dayang was rumoured sold in excess of $22 mln to undisclosed buyers, while the Japanese built OCEAN VENUS 61,000 dwt 2012 Shin Kasado seemed sold to Greeks at $20.8 mln.

Source: Banchero Costa

On Handies, the MAESTRO SAPPHIRE 40,000 dwt 2020 Saiki has been reported sold to DevBulk for $28 mln. Active week also in the tanker market. Starting from KGJS, which, pursuing its strategy that has seen the company focus on the dry segment, has sold his last two tanker vessels (2 x LR2): SKS DARENT 119,000 dwt 2011 Hyundai Samho and the one-year older SKS DRIVA for a total price of $104 mln. On MRs, NY listed Ardmore Shipping announced – as a part of a gradual fleet modernization – the sale of ARDMORE SEAFARER 50,000 dwt 2010 Onomichi for $27,1 mln (the vessel was purchased in 2020 around $16,7 mln). In his latest press release, the company confirmed the purchase of a 2017 Japanese-built MR for $42 mln; the vessel was reported to be ST PAULI 50,000 dwt Hyundai Mipo. MT Maritime sold the MTM COLORADO 51,000 dwt 2004 STX to Chinese buyers at $15,2 mln. Last year, the company sold the formerly MTM HUDSON (now named SAGA) 51,000 2004 STX in excess of $18 mln. Two Handy tankers: the CAPE CAMDEN and the CAPE CORFU both 37,000 dwt 2009 Hyundai Mipo were sold enbloc to Greek buyers at a total price of $44 mln”, the shipbroker concluded.
Nikos Roussanoglou, Hellenic Shipping News Worldwide

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