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Newbuilding Ordering Activity Slows Down

The newbuilding ordering activity has slowed down over the past week, but interest has remained high for some specific sectors. In its latest weekly report, shipbroker Allied said that it was “a quieter week than the last, though clear interest remains in the LPG sector. Beginning with the highest capacity vessel, Dorian LPG have contracted 1 firm and 1 optional vessel from Hanwha Ocean with delivery 2026, the delivery date was apparently a deciding factor in the choice of the builder over Hyundai HI, which could only offer 2027 delivery. News also broke of 4 medium gas carriers ordered and up to 4 Ethane/Ethylene carriers contracted by Fortitude Shipping – just after last week’s news of 3 large 99k cbm Ethane/LPG carriers ordered by Wanhua Chemical. In the more traditional sectors, there was just one piece of news on the tanker side as Atlas Maritime revealed 2 Suezmax vessels in addition to the 4 already announced as on order this year, although it is unclear whether these are fresh orders or declared options. In the bulker sector, there was a domestic deal which saw ICBC Leasing order 1 Kamsarmax vessel from Chengxi and an order at Nantong Xiangyu from Doun Kisen for 2 Ultramax vessels, following their 2 Kamsarmax at the same yard earlier this month”, the shipbroker said.

Source: Allied shipbrokers

In a separate report, shipbroker Banhero Costa added that “the Greek Owner Akmar Shipping & Trading booked an order at DACKS for a 64,000 dwt Ultramax to be delivered in February 2026. The price is yet undisclosed. Another dry order comes from ICBC Financial Leasing: the Chinese leasing company was reported for a single 82,000 dwt Kamsarmax at Chengxi Shipyard for an undisclosed price, delivery within 2026. Tanker orders continue to dominate the scene. Aegean Shipping Management has agreed to build two more Ice class LR2. Vessels will be constructed at Cosco Yangzhou but no price was disclosed. Over the years, the Greek owner has built 14 tankers within Cosco Group. Atlas Maritime added 2 x Suezmaxes to its previous order with DH Shipbuilding. The total number of ships under construction is now 6 (all dual fuel ready) with the last 2 to be delivered in 2026 at a cost of $85 mln each. Dynacom exercised options for 4 more LR2s at DSIC Shanhaiguan, bringing its order at the Chinese yard to 14 ships, deliveries running until 2029. Vessels are priced $62 mln each and will be powered by conventional fuel. Sea Pioneer Shipping signed a contract for 2 x MR2s – with option to add two more – at K Shipbulding for a price of $45 mln each, delies scheduled in September 2025 and March 2026 respectively. The price, slightly below-market, is justified by a 40% upfront payment which led to more favourable terms. 2 x MR2s were ordered at YangziMitsui by Lepta Shipping but no price was disclosed so far. Stolt Tankers confirmed an order of 6 + 6 optional 38,000 dwt stainless steel tankers (30 segregated tanks) at a price of $57.4 mln each. Deliveries are set from 2026 to 2028.

Source: Banhero Costa

Meanwhile, in the S&P market, Allied said that “on the dry bulk side, recent activity will hardly impress those that follow this sector closely, though interest continues to be fairly solid. The Capesize segment has maintained its buoyant pace and kept its position as the most traded dry bulk segment, nourished by a further round of sales over the past week, the majority of which involved more vintage assets. Considering the recent robust rally in spot earnings, we could anticipate general appetite appearing strong in the near term. The other main size segments took the back seat, with the Handysize one especially, having lost momentum lately. On the tanker side, things continued on an uninspiring tone, with a limited number of units changing hands over the past week. At this point, we have not seen any firm presence among any of the core size segments”.

Banchero Costa added that “after offers got invited on the 13th of November Japanese controlled Capesize Frontier Brilliance around 180,000 dwt built 2013 Imabari (BWTS fitted) has been sold at $30.6 mln to C. of UC Shipping. Another two Capesizes, the Honor and the Glory around 180,000 dwt built 2011 Hyundai were sold at $49 mln to Greek buyers. Nord Beluga around 82,000 dwt built 2015 Oshima (BWTS, Scrubber, eco, Ice class 1C) was sold at $27.7 mln to Greek buyers, a month ago the Lord Star around 83,000 dwt built 2013 Sanoyas (scrubber fitted) was reported at $23.8 mln. In the Handy segment the Greek controlled Navios Lyra around 35,000 dwt built 2012 SPP (SS due 20227 DD due 2025 BWTS fitted) has gone to Middle Eastern Buyers at $13.75 mln, a few weeks ago the Ria 34,000 dwt built 2012 Dae Sun was reported at $14.2 mln. Two Japanese controlled J19 chemical tankers the Gion Trader and the Albatross Trader built 2015 Usuki were reported at $59.4 mln en bloc to Chinese buyers”, the shipbroker concluded.
Nikos Roussanoglou, Hellenic Shipping News Worldwide

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