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Newbuilding Activity Growing Steadily

Newbuilding activity has perked up during the past week, as have S&P deals. In its latest weekly report, shipbroker Allied Shipbroking said that “a modest flow of fresh transactions took place during the past few days or so. For a period now, the containership sector is one of the main drivers in the newbuilding market, boosting the overall market over onto a relatively “stronger” momentum. Thinking about the tremendous rally in their respective freight earnings since the onset of this year, this has come hardly as a surprise. During the past week, we saw multiple fresh new orders of various sizes take place on a variety of Chinese yards. In other core sectors, dry bulkers experienced a small spark, thanks to a firm new order for 10 Handysize units. Notwithstanding this, given the bullish sentiment surrounding this market, we can expect a fair amount of new projects emerging over the coming months. On the other hand, the tanker market remained rather quiet for yet another week, unable to sustain a more stable track for the time being. Both the poor freight conditions, as well as, the high quoted newbuilding price levels, have seemingly discourage potential investments in new orders for the time being”.

Source: Allied Shipbroking

In a separate note, shipbroker Banchero Costa said that “EPS has signed a 4+2 dual fuel 7,000 ceu PCTC at CMHI Weihai, following a similar batch order at CMHI Jinling 3 months ago, for a total of 12 units at CMHI. OOCL/Cosco shipping has signed ten 16,000 teu c/v contracts at Nacks and Dacks, with delivery dates ranging from the first quarter of 2025 to the fourth quarter of 2025 at Nacks and from the fourth quarter of 2024 to the fourth quarter of 2025 at Dacks.

Source: banchero costa &c s.p.a.

Seaspan has declared their options of five dual fuel 7,000 teu c/v at Yangzijiang, priced at $106 mln each, with delivery from third quarter of 2024 to fourth quarter of 2024. Hafnia has declared their options of two dual fuel 110k LR2 at GSI, priced at $59 mln each, as declared in May and reported today. Briese has continued ordering two 1,900 teu c/v at Huangpu Wenchong shipyard after four firm vessels ordered in first half of 2021. CMB has declared their options of two 210k Newcastlemax at Qingdao Beihai Shipyard, which brings a total of 17 units Newcastlemax newbuilding order at Qinggdao Beihai in this year”, said the shipbroker.

Meanwhile, in the S&P market this week, Allied said that “on the dry bulk side, it was a rather modest week in terms of transactions taking place. Moreover, we saw once again activity being relatively skewed towards the smaller sizes, with Supramaxes taking the lead during the past few days. Notwithstanding this, we saw buying appetite being seemingly on the rise for the bigger size segment as well, given the considerable number of units changing hands. With their respective freight rates indicating an upward momentum, we may well see a more vivid market in the near term. On the tanker side, the prolonged imbalance, especially from the side of earnings, has left little room for the possibility of a more stable trajectory in the SnP market. Just a handful of fresh deals came to light, focusing exclusively on the MR segment which is also the only sub-market with a more stable presence at this point. With all that being said, we can expect things to continue at uninspiring levels in terms of activity being noted in the short-term”, the shipbroker concluded.

Source: Allied Shipbroking

In a separate note, Banchero Costa added that in the dry bulk segment, “last week in the bulk carriers market 3 x Capesize Stella Nora & Stella Naomi & Stella Hope (abt 180k dwt 2016 blt, China) have been reported sold in the region of $44 mln each to clients of Ciner (Turkey). Last week the 5 years younger (but Japan blt) mv Frontier Phoenix 181,000 dwt 2011 Koyo has achieved $33.75 mln. Distressed HULL No B85K-9, Kamsarmax built by dsic shanhaiguan shipyard, ordered by avic leasing (contract cancelled), delivery in June 2022, is now sold at auction at price of $36.03 mln. Castor Maritime, Greece, this week bought the Panamax OKEANOS BLISS (76k blt 2008 Imabari) at $18.75 mln basis dely Q4 2021. The Supramax segment remains active with multiple sales to report. Hua Rong 1 (abt 57k dwt 2012 blt Zhejiang yard) was committed at $124 mln RMB (abt $19.22 mln at today exchange rate).

Source: banchero costa &c s.p.a.

Conversely, the Chinese built OCEAN SUCCESS (abt 57k dwt 2011 built, Tianjin) was sold for $15.8 mln, lower price is reflecting that Vessel has SS/DD due immediately. ANTOINE 56k dwt 09 blt Mitsui (BWTS FITTED) is now reported sold at $19.2 mln with balance t/charter (index + bsi 97pct till Feb 2022). CENTENARIO FORZA (56k blt 2012 Mitsui) had invited offers by 1st September from all outright buyers have received offers in excess $20 mln, and Vessel now being under firm negotiation. Other Supramax sold this week were Sibulk Tradition 53k blt 2008 Iwagi reportedly at $17 mln basis delivery Dec 2021 and the older S`HAIL AL RUWAIS (52k blt 2001 Onomichi) sold for $9.2 mln basis Q1 2022 delivery with SS/DD passed. Lastly, handy bulker PHOEBE STAR (abt 32k dwt 2010 blt Jiangsu, China) has been committed for a price approaching the very high $13 mln”, the shipbroker said.
Nikos Roussanoglou, Hellenic Shipping News Worldwide

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