Dry Bulk Market Still the Main Shipowners’ Focus of Newbuildings, Despite Major Deals in Container and LNGs
In a separate note, shipbroker Banchero Costa said that “Eastern Pacific turned to Japan Marine United for 2 x 211,000 dwt Newcastlemax to be delivered in 2025. Apparently the two vessels will be conventionally fuelled and the price still remains undisclosed. In the same segment, CMB controlled Bocimar added 2 x 210,000 dwt Newcastlemax to the ones already on order from Qingdao Beihai, at the price of $66 mln apiece and delivery in 2027.
Vessels will be dual-fuel ammonia ready. Diana Shipping was reported signing a letter of intent with Tsuneishi for 2 x 81,300 dwt dual-fuel methanol Kamsarmax bulk carriers; the vessels will be built in Tsuneishi’s affiliated yard in Zhoushan, with deliveries in 2027 and 2028, priced $46 mln each. In tanker market, the most notable news was the decision of Hengli H.I. to build 2 x 306,000 dwt VLCC for their own account, delivery expected in June 2026 and price undisclosed. China based Zhejiang Xinyihai Shipping chose Ningbo Xinle to build a 8,500 dwt chemical tanker with delivery set for September 2024 and the price was not reported”.
Meanwhile, in the S&P market, Banchero Costa said that “on the dry bulk side, the market moved way ahead of last week’s pace, with the number of vessels being reported as sold appearing fairly sound at this point. As a reflection of this, Handysize market continued on its recent firm-footing (alongside with the Capesize one), leading the upward momentum in the snp activity, as presented in 4-week trend analysis table in the front page.
Moreover, the recent support found in asset price levels has been already translated in upward push, a situation that can potential impede market’s liquidity in the near term. On the tanker side, things in the snp market continue to disappoint at this point, given the scarcity of fresh transactions coming to light. As we experience shifting momentum in spot earnings w-o-w, especially in the current asset price regime, activity will prevail volatile in the upcoming period”.
Banchero Costa added that “the Japanese owner of SUIGO 175,000 dwt built 2011 Namura invited offers last week and the vessel is allegedly reported sold for $24 mln to Greek buyers. Interesting to note she apparently received opening offers in region of $22 mln which eventually turn in much stronger price due to competition. The modern eco type, Sinokor controlled CONTAMINES 180,000 dwt built 2016 SWS (eco and bwts) is also reported sold to Greek buyers for a price of $42 mln. Several major companies were bidding on her and they may be eventually end up buying one of the 2 sisters available from same owners, of same age but scrubber fitted where the target is set in the $43/44 mln mark. In the Kamsarma sector Greek buyers picked up the Castor Maritime controlled Kamsarmax (225m loa design) MAGIC ARGO 82,000 dwt built 2009 Oshima for a price of $15.75 mln. The Japanese controlled Ultramax non eco SANTA VITORIA 61,000 dwt built 2012 Imabari invited offers last week and whilst initially she saw best in the high $19 mln, and eventually was reported sold for $20.5 mln to undisclosed Buyers. Greek owners of the TN DAWN 56,000 dwt built 2008 IHI (Warstila ME) invited offers last week too and we understand they have seen offers in the low $13s mln which was an improvement to the last sister done very recently WAVE RUNNER for high $12 mln. To compare, Dolphin57 design SUPRA THESSAL 57,000 dwt built 2010 Qingshan was reported sold at $11.5 mln whilst the Crown58 design XING HONG DA 8 58,000 dwt built 2012 Yangzhou Dayang was apparently sold to Chinese buyers for $12.7 mln. An interesting deal for an eco type Handy was concluded by Swire who was selling their 3 sisters B Delta 39 design FENGNING, FOOCHOW, FUNING all 39,000 dwt built 2015 Chengxi (Warstila ME) for a price in the $19.25/19.5 mln to JP Morgan. Less activity in the tanker sector with rates not really supporting strong activity whilst prices remain strong for modern tonnage. The LR2 PS VENEZIA 108,000 dwt built 2010 Hudong, BWTS fitted DPP trading, was sold for a price of $37.5 mln. A very modern MR controlled by Greek owners Pyxis, PIXYS EPSILON 50,000 dwt built 2015 SPP was rumoured sold for a strong price of $40.75 mln to a tender for MSC (Military Sealift Command). A vintage Handy tanker SHANDONG ZIHE 40,000 dwt built 2004 Shina was sold in China for a price of $14.45 mln”, the shipbroker concluded.
Nikos Roussanoglou, Hellenic Shipping News Worldwide