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More Newbuilding Orders on the Way

Newbuilding activity has remained in healthy levels as more owners are “dipping their toes” in the market. In its latest weekly report, shipbroker Allied Shipbroking said that “2024 continues with another week of healthy newbuilding activity across the key shipping sectors. Fewer tankers were contracted versus last week’s number, although high-value deals include Maran’s order for 3 shuttle tankers, which is reportedly near to signing. Seatankers have been linked to another deal in progress, and are reportedly at the LOI stage for up to 4 scrubber-fitted VLCCs. If this comes to fruition, the total orders for 2024 will be 8 vessels, reaching 14 including options.

Source: Allied

On the dry side, K-Line shipping has contracted 3 wide-beam post-panamax vessels, that will be methanol ready and intended for the Japanese coal trade. Chinese yards take the rest of this week’s bulker orders, with two Kamsarmaxes to be constructed at each of Tsuneishi Zhoushan and Hengli HI, while New Dayang received an order for 2 Ultramax vessels. Turning to the gas sector, contracting was focused on ammonia/ LPG carriers with 8 such vessels added to the orderbook, but no new LNG carriers were contracted. ONE was the sole contractor of new boxship tonnage, with 12 vessels split evenly between Yangzi Xinfu Shipbuilding and CSSC Jiangnan”.

Source: Banchero Costa

In a separate report, shipbroker Banchero Costa added that “in the gas sector Hyundai received an order for 2 + 1 x 88,000 cbm LPG carrier from PascoGas , deliveries will start from end 2026 and the price was reported at $121 mln each. On tankers, Dynacom Tankers Management placed an order for 6 x LR1 (75,000 dwt) at New Times Shipbuilding with deliveries starting from mid-2026. Price reported at $53 mln each. On bulkers, the Taiwanese Owners Wisdom ordered at Tsuneishi Zhoushan 2 x Kamsarmax with delivery beginning of 2027. The vessels were reported at $40 mln each”.

Meanwhile, in the S&P market, Allied said that “on the dry bulk side, the recent strong rally in terms of snp activity has somehow evaporated, with the overall number of transactions being reported thinning in tandem. In the separate size segments, the momentum appeared more favorable in the smaller sizes, mainly for Supramax vessels, while in terms of age, things were concentrated towards the more vintage side (with some exceptions). The market has indicated some fair potential since the year start and so overall, we can expect things to return to a more liquid state in the near term. On the tanker side, the snp market here retained some of its recent form, with a rather healthy number of units reported as sold. As of late, the Aframax segment has occupied the dominant position within the market, and lately it has been supported by a couple of en bloc deals”.

Source: Allied

Banchero Costa added that “dry bulk second hand activity was predominantly focused on geared tonnage. 2 Japanese Supramax sisters were sold CRESTED EAGLE and STELLAR EAGLE 56,000 dwt built 2009 IHI went enbloc to undisclosed Buyers for $29 mln. A similar Mitsui built 2007, the ADVANCE 56,000 dwt was sold to Chinese Buyer for a comparable price of $13.8 mln. In the Handysize sector the most interesting sale to report was the enbloc deal for 2 B Delta 43 design owned by French group, named NOTOS VENTURE and EURUS VENTURE 43,000 dwt built 2017 Qingshan (eco type) at an enbloc price of $46 mln. Interesting to note that in March 2023 they sold the sister BOREAS VENTURE built 2016 for the same price.

Source: Banchero Costa

A Capesize deal was reported for the CORONET 182,000 dwt built 2011 Kawasaki sold to Greek buyers for a price rumoured around $27 mln. The Tanker S&P activity is non-stop across all segments. A 2004 built VLCC, the ELIZABETH I.A. 306,000 dwt Daewoo was reported sold by Greek Owners to Chinese interests at $34 mln (basis class due Q1 2024, scrubber fitted). In the LR1 sector 2 sisters BROOK TROUT and LAKE TROUT 73,500 dwt built 2007 STX (ice class 1A) were sold enbloc at $26 mln each. A younger LR1, the PATARIS 73,700 dwt built 2009 New Times was sold to Trafigura for a softer $26 mln”, the shipbroker concluded.
Nikos Roussanoglou, Hellenic Shipping News Worldwide

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