Newbuilding Orders Keep “Flooding” Asian Shipyards

Asian shipyards have kept on filling up their orderbooks with more contracting activity being reported. In its latest weekly report, shipbroker Banchero Costa said that “the new building market remains vibrant, spanning multiple segments and showcasing significant investments. Starting from tankers, Eastern Pacific Shipping has placed an order for 4 x 113,600 dwt LR2s at Xiamen Shipyard. The vessels are expected to be delivered in 2027, with each unit costing around $74 mln. Seatankers has exercised an option for an additional VLCC at Dalian Shipbuilding Industry, bringing their total order to eight vessels. Delivery set between 2026 and 2028, for a price of $120 mln/each. In the meantime, Saudi Arabia’s Bahri is closely negotiating 4x 320,000 dwt VLCCs from Dalian Shipbuilding Industry. The price for each vessel should be around $120 mln, with deliveries scheduled for 2026 and 2027. CMB Tech has ordered 20 x fully stainless steel chemical tankers from Nantong Xiangyu. The order is split into 10 x 5,000 dwt vessels and 10 x 15,000 dwt vessels, priced at approximately $15 mln and $40 mln each, respectively. These vessels will be delivered between 2025 and 2027 and will be chartered on long term to ExxonMobil”.

The shipbroker added that “with regards to bulk carriers, Jiangsu Ocean Shipping (JOSCO) has finalized a contract with Nantong COSCO KHI Ship Engineering (NACKS), to build 2 x 82,000 dwt Kamsarmax BC. Price remains undisclosed but estimated in the high $ 37 mlns. This agreement signifies JOSCO’s return to NACKS after their previous order for two ultramax vessels in late 2020. It also follows a recent contract for 4 x 63,500 dwt newbuilds with the newly reestablished Sainty Shipbuilding, which has also received orders from Sea Traders in Greece (6 x 63,500 dwt Ultramax) and China Development Bank Leasing (4 x 63,500 dwt Ultramax).

In the gas segment, Eastern Pacific has committed 6 x 150,000 cubic meter LPG/ethane carriers (50% greater capacity than existing or currently on order vessels) at Jiangnan Shipyard. Each ship is priced at $200 mln, with deliveries set from 2025 to 2027. The vessels will be chartered out on long term to Satellite Chemical. As for the container vessels, Capital Maritime has secured an order for 6 + optional 4 x 8,400 TEU (LNG dual fuel propulsion) vessels at New Times Shipyard. The vessels are expected to be delivered in the first quarter of 2027. Price remains undisclosed”, Banchero Costa said.

Meanwhile, in the second hand market activity, the shipbroker noted that “following a very intense first half of the year and statistics that expect sale and purchase transactions for 2024 to score as high or close to record year 2021, the activity stays stable with a busy dry bulk market, though we expect the “summer mood” filtering and a slow down for the coming weeks As anticipated dry bulk market have seen a few interesting transactions last week, starting from larger segment where the FOMENTO TWO 208k dwt built 2017 Daehan (scrubber fitted) was sold to Korean buyer Panocean for a price of $60 mln. A similar age eco type 2016 Capesize mv HERUN GLOBAL 180,000dwt was sold to Alpha Bulkers for $49.5 m. ln In the Kamsarmax sector, Chinese Buyers Highton Development have purchased 3 x 82,000dwt unit from Wilmar, namely THERESA JINLIN, THERESA JIANGSU and THERESA GUANDONG all built 2012 in Sainty shipyard for a total price of around $57.3/57.5 mln. A modern 2020 eco type Ultramax JAL KAMAL 63,000dwt built 2020 Imabari got sold for $ 37.75m to Greek Buyers whilst in the Handysize market the BUNUN GLORY 37,000dwt built 2015 Saiki (OHBS design) was sold to Turkish Buyer Manta Denizcilik for $21.5 mln In the tanker sector we heard of a 2014 eco type MR2 mv Green Sea 51,000dwt built 2014 Daesun being sold to LMV for a price of region $38.75 mln”, it concluded.
Nikos Roussanoglou, Hellenic Shipping News Worldwide