More Newbuilding Orders Added to the Global Orderbook

More newbuilding orders were added to the global orderbook over the past week, albeit at a slower pace compared to the previous weeks. In its latest weekly report, shipbroker Allied Shipbroking said that “as the first week of December comes to a close, new order contracting picks up over the previous week a little thanks to a healthy number of dry bulk deals, which see one of the busiest weeks for bulker contracting in several months. Shandong Shipping’s order for 4 VLOCs and Fujian Guohang’s order for up to 10 Post Panamax vessels demonstrate confidence in methanol as a green fuel, and the orders are part of a shift this year toward methanol DF bulkers, and to a lesser extent ammonia, in comparison with the dominance of LNG over previous years. On the tanker side, Euronav has been active with 3 newbuildings having come to light over the past week. The VLCC is an optional vessel that we had not previously announced, and takes their total at the yard to three vessels, while the Daehan ice class vessels are estimated to be around $85m, though the specification required by the Valero charter means the price could be higher. The string of Aframax/LR2 orders come as secondhand values exceed newbuilding prices and perhaps make it a little easier to justify the record newbuilding price than for other sectors”.

In a separate note, Banchero Costa commented that it was “a very quiet week for new building activity across the dry bulk and tanker sectors. In the tanker market a new order was placed by a Arcadia of Greece for 2 + 2 Aframax at Dalian shipbuilding, priced around $63 mln each, deliveries expected during 2nd half 2026. In the dry market a major order was signed by Shandong Shipping at domestic shipyard Qingdao Beihai for 4 x 325,000 dwt ore carriers, deliveries starting in June 2026.

These ships will be serving a long term contract with Vale to transport iron ore from Brazil to China. The largest volume of new building contracts signed last week was for a total of 24 Car carriers including options. A contract was reported between HMM who selected Guangzahou Shipyard for 6 + 6 vessels of around 10,800 ceu, deliveries starting in February 2027, prices around $122 mln each. The other twelve ships were awarded by Seaspan Corporation to Shanghai Waigaoqiao, with similar price and delivery to the other order”.

Meanwhile, in the S&P Market, Allied said that “on the dry bulk side, the snp market escaped firmly from the recent sluggish state, given the boosted number of transactions coming to light. Capesize segment took the front seat, outperforming all the other sizes that typically lead the overall activity, reflecting the recent buying spree that prevailed, following the booming freight market of previous weeks. On the other hand, this positive momentum evaporated fairly steeply, with the Capesize’s spot freight market having already lost more than 30% of its value week-on-week, that may add negative pressure in price ideas in the near term. On the tanker side, things resumed on a fairly modest mode week-on-week, given the sound number of vessels changing hands. VLLCs had a strong presence, which has already been translated into an upward pressure in prices”, Allied noted.

Banchero Costa added that “the Japanese controlled Kamsarmax IC HARVEST 83,000 dwt 2010 Sanoyas was reported sold to Chinese interests at $17 mln. The CYMONA GALAXY 81,000 dwt 2009 Universal was rumoured sold to Greeks at $15.5 mln, and other Greeks Buyers were reported behind the purchase of the Japanese controlled KING COAL 76,000 dwt 2010 Oshima at $15.5 mln. 2 x Chinese built Supramaxes were reported sold at similar prices: the RUI FU KANG 57,000 dwt 2011 Xiamen was sold on auction at $12 mln, while the ZHE HAI 169 57,000 dwt 2011 China Shipping Industries Jiangsu was rumoured sold for $11.7 mln. As a matter of comparison, in October the same design Dolphin57 SUPRA THESSAL 2012 Qingshan was reported sold for $11.5 mln.

The Japanese built ERMIONE 56,000 dwt 2008 IHI was reported sold to Chinese for $14.2 mln. On Handysize, the Korean built VULLY 35,000 dwt 2011 Shinan was whispered sold to Chinese Buyers at $13 mln (tbc). In the tanker market, the most notable sale of the week was the one of 2 modern VLCCs: DIJILAH and KIRKUK both 320,000 dwt 2019 Samsung (BWTS and scrubber fitted). The two vessels – bought by AISSOT as resales in 2018 for $88 mln each – are now rumoured at a price of $114 mln each. On Aframax, S-TREASURE 106,000 dwt 2005 Hyundai Samho was reported sold at $32 mln to undisclosed Buyers, a slightly better price compared to the one of the WONDER VEGA 106,000 dwt Hyundai sold back in September at $31.5 mln. Two MRs – NORD SUSTAINABLE and NORD SUPREME 49,500 dwt 2015 STX – were reported sold enbloc to Greek Buyers at a price of $39 mln each”, the shipbroker concluded.
Nikos Roussanoglou, Hellenic Shipping News Worldwide