Dry Bulk Carriers in High Demand
In a separate report, shipbroker Banchero Costa noted that “slow activity in the dry segment this week, with some rumours reported particularly on Ultramax size: Chinese yard SUMEC Dayang has received orders for 3 x ‘Crown 63 Plus’ 63,000 dwt Ultramax bulkers from two different contractors; 1 vessel has been ordered by a Chinese leasing company, for delivery in June 2025, while the other 2 x vessels have been contracted by an undisclosed Greek owner, with delivery stemmed between August and October 2025. The price for the latter two vessels is rumoured in the region of $32.6 mln. In Japan, Tsuneishi booked an order from its related company Kambara Kisen for a 66,000 dwt dual fuel methanol Ultramax bulk carrier, no price has been disclosed so far. Quite the opposite in the tanker segment: in fact, it has been a busy week with UK shipowners leading the way. Zodiac Maritime has placed an order for 2 x 159,000 dwt Suezmax tankers at JMU.
Deliveries are scheduled for 2025, while the price – for the moment – remain undisclosed. Union Maritime will add two more LR2 tankers to its orderbook: UK based shipowner placed an order at China’s SWS for the construction of two LR2s at a price near $65 mln/each. Vessels will be delivered in September and December 2025. At the same time, it was reported that same Owner cancelled its order for 2 x Ultramax BCs at New Dayang (priced $32 mln/each). It is not yet clear whether the shipowner has decided to switch the duo to additional 2 x LR2s. Union Maritime it’s also behind an order for 4 x 18,500 dwt chemical tankers at Wuhu and two more at Fujian Southeast at a cost of USD 30 mln/each. The Owner has presently a total of six vessel on order at Wuhu, but still has an option for an additional two ships. Sinogas Management has placed an order for 9 x 97,000 cbm LPG/ethylene carriers at Jiangnan Shipyard with deliveries in 2026 and 2027 . Price remains undisclosed”.
Meanwhile, in the second hand market, Allied commented that “on the dry bulk side, the market did not move ahead at this point, with the number of vessels being reported as sold appearing limited yet again. In line to this, we have not seen any robust momentum in activity, at least according to the past 4-week trend analysis (page 1). On a brighter note, Handysizes have made a stronger presence lately, with numerous deals coming to light. All in all, while asset price levels seem to have found some support, the snp market will likely prevail more volatile in terms of transaction volume from time to time. On the tanker side, things in the snp market continued to sour week-on-week, with the amount of transactions slipping further towards a slower pace. Given the current volatility dominating the market, it will take some time before the market gets back onto firmer footing”.
Banchero Costa added that “during the week Korean controlled Capesize West Trader 176,000 dwt built 2009 Jinhai (BWTS fitted) was sold at $18.8 mln to c. of Danaos. After offers were invited last week the Sanko Fortune 75,000 dwt built 2012 Sasebo ( BWTS-Scrubber fitted) was reported at mid/high $19 mln to Greek buyers. The Japanese controlled Copacabana 37,000 dwt built 2011 Saiki (SS due 2025 BWTS fitted Open Hatch Boxed) was sold to Chinese Buyers at mid/high $15 mln, a few weeks ago the Global Effort 37,000 dwt built 2014 Onomichi was done at mid/high $16 mln. In the tanker market the 15 years old MR High Jupiter 51,000 dwt built 2008 STX (SS DD due Oct 2023 CPP trader) was sold to Indian Buyers at $22 mln. The Dominia 40,000 dwt built 2009 SLS (ice class 1B; BWTS) was sold at auction in Malta at €23 mln to Greek buyers”.
Nikos Roussanoglou, Hellenic Shipping News Worldwide