Newbuilding Market Slowing Down as Holiday Season Nears
In a separate note this week, Banchero Costa added that “in the VLCC segment, a pair of tankers were ordered at Hyundai Samho by South Korean compatriot Hyundai Glovis. Each unit was priced at $89.6 mln and deliveries are scheduled for January and March 2022. This order is backed by long term COA’s for Hyundai Oilbank. In the Gas / LNG sector several firm + option vessels were declared for 170,000 cbm units at Hyundai Samho by Pan Ocean (2+1) JP Morgan (1+1) and Knutsen OAS Shipping AS (1+1): all units are gas fuelled and all will be built against long term charter to Shell. Finally, few bulk carriers’ orders were taken in Japan for domestic ownership, such as Oshima Shipbuilding which increased its orderbook by six more units, although further details remain undisclosed”, said the shipbroker.
Meanwhile, in the S&P market, Allied Shipbroking added that “on the dry bulk side, we witnessed another week with a considerable number of transactions taking place. The favorable conditions in the freight market and the expectations for a further enhancement in demand to be noted in this sector during 2021, has alleviated the previously stated concerns regarding the imbalance between supply and demand. Meanwhile, the softening trend noted in second-hand asset prices has also boosted interest amongst buyers. On the tankers side, things were less impressive, due to the uninspiring freight market. However, activity remained above expectations, with the falling second hand asset prices curbing concerns sourced from the low freight rates. The outlook for 2021 depicts a scene of improved demand and thus we may see interest amongst buyers starting to ramp up further in the coming weeks. Meanwhile there has also been an increase in keen sellers as part of the earnings “squeeze” being felt during the past 6 months”.
Banchero Costa added that “2 x 208,000 dwt Newcastlemax scrubber fitted units Netadola and Xanadu built in 2017 at Jiangsu were sold to client of Maran and JP Morgan at $38 mln each. Clients of Thenamaris were behind Tiger Guangdong 180,000 dwt built in 2011 at Qindgao Beihai sold for $15.75 mln, few months ago Giuseppe Bottiglieri 176,000 dwt built in 2011 at New Times was done at $15.7 mln. 3 x German controlled Capesizes ER Borneo, ER Bayonne and ER Buenos Aires 178,000 dwt built in 2010 at HHI (scrubber fitted) were sold at $39 mln basis cash and shares deal to client of Star Bulk. Oceanis 75,000 dwt built in 2001 at Samho (ss/dd due 2/2021) was sold at $5.75 mln and Very Maria 74,000 dwt built in 2001 by Namura (ss/dd due 9/2021) at $5.5 mln. Sales were in line with Happy Clipper 73,000 dwt built in 2001 at Sumitomo done back in November at $5.2 basis SS/DD due.
Densa Cougar 57,000 dwt built in 2012 at STX (ss/dd + BWTS 3/2022) was sold at $10.3 mln to Greek buyers, while Qatari controlled Dolphin 57 Qatar Spirit 57,000 dwt built in 2009 at Qingshan (ss/dd due 2024/08- 2021) was sold at $7.4 mln. Cordelia B 56,000 dwt built in 2011 at Qingshan was sold at $8.1 mln. After offers were invited 24th November Japan controlled Handysize Turquoise Ocean 38,000 dwt built in 2011 by Minami Nippon (SS/DD due 08/2021) was reported at $9.75 mln. Back in October Indigo Imabari 38,000 dwt built in 2010 at Imabari was done at $10.6 mln. In the tanker segment, 2 x sister LR2s Ocean Unicorn (DPP trader) and Ocean Quest (CPP trader) 109,000 dwt built in 2009/2008 by SWS were sold at $16.5 mln and $15.75 mln each. Back in October Bergina 105,000 dwt built in 2007 at Tsuneishi was reported at $17.2 mln”, the shipbroker concluded.
Nikos Roussanoglou, Hellenic Shipping News Worldwide