Newbuilding Orders Keep Pouring In

Newbuilding ordering activity remained high over the past week. In its latest weekly report, shipbroker Banchero Costa said that activity was busy, “especially considering the summer season, across many different sectors. Deliveries are pushed further and further in the future with 2028 becoming usual for multiple, conventional units and 2030+ for unconventional, large units. In the dry sector the Chinese group Fujian Guohang ordered 2 x 63,000dwt Ultramax at Haitong Offshore for fairly short delivery in 2026, no price emerged. In the larger tanker sector and product tanker sector, whilst we do not have any specific order confirmed to report, we understand several contracts are under discussion which may appear in the next few weeks. Certainty are the high prices and late deliveries. In the smaller chemical tanker business, Greek Owners Athenian Sea Carriers booked 2 additional 18,500 dwt IMO 2/3 vessels at Wuchang lifting their commitment to 10 ships. Deliveries starts from 2025 and price is understood to be region $30 mln per ship”.

The shipbroker added that “in the gas sector AW Shipping, Abu Dhabi based company formed by a JV between Adnoc and Wanhua Chemical Group, ordered as many as 9 x 99,000 cbm ethane carriers at Jiangnan Shipyard for a total project value of $1.4 bln; deliveries are stretched between 2025 and 2027 Japanese owners Nissen Kaiun chose Yangzijiang Shipyard for an order for 4 x 88,000 cbm LPG/Ammonia carriers, priced around $110 mln each. The ships are fixed for 7yr TC to BGN starting from delivery. In the car carrier business CIDO Shipping wants to come back playing a leader’s role and, in an effort to renew the fleet, it is going through a NB order for as many as 9 x 7600 ceu to be built at China Merchant Heavy Industries Jiangsu, priced around $90 mln each and for delivery from 2027. More tonnage is in the pipeline. In the cruise sector Carnival Cruise is going to build the largest cruise ships ever designed with capacity of up to 6000 berths. The three vessels will be built at Fincantieri and will be LNG capable. For this contract the deliveries are as far as 2033 for the 3rd ship on order”, Banchero Costa noted.

Meanwhile, in the S&P market, shipbroker Xclusiv said that “the demand for large vessels has been robust so far in 2024. Since January, a total of 61 Capesize and 28 Newcastlemax vessels have changed hands, compared to 55 Capesize and 17 Newcastlemax vessels during the same period in 2023. This week, the Scrubber fitted Newcastlemax “Fomento Two” – 207K/2017 Daehan was sold for region USD 60 mills to clients of Pan Ocean basis TC attached to Oldendorff with balance of 130% index. On the Capesize sector, the “Herun Global”- 181K/2016 SWS found new owners for USD 49.5 mills, while Chinese buyers acquired the “Sea Triumph” – 181K/2012 Koyo for USD 36 mills. On the Ultramax sector, Greek buyers acquired the “Swansea” – 63K/2015 Yangzhou Dayang for USD 25.5 mills. Additionally, Greek interests appear to be involved in the sale of the Supramax vessel “Olympus”- 57K/2013 STX Dalian, which was sold for excess USD 17 mills. On the same sector, the 1-year older “Heilan Cruiser” – 57K/2012 Shanghai Shipyard was sold for low USD 14 mills to Chinese buyers. Last but not least, the OHBS Handysize “Bunun Glory” – 37K/2015 Saiki was sold for USD 21.5 mills to clients of Manta Denizcilik, whilst the Ice Class 1C “Ugljan” – 38K/2010 Jiangsu Eastern found new owners for high USD 11 mills”.

Banchero Costa added that “good activity reported in every segment in the dry market. In the Capesize segment, the Korean controlled HL BALTIMORE 177,000 dwt 2006 Mitsui has been reported sold to Chinese buyers in the high $21 mln, basis TC back at $21,000/d for 9/11 months, while the GENCO HADRIAN 169,000 dwt 2008 Sundong was rumoured sold to Hong Kong based Owners at $25 mln. The C. VISION 173,700 dwt 2008 Bohai was reported to Chinese Buyers at $21 mln, the vessel was reported far from tip top conditions. Modern Japanese Kamsarmax XIN DE HAI 82,000 dwt 2017 Oshima was rumored sold to Indians at a firm $37 mln. It is worth to note that back in March, the similar THE PROSPERITY 82,000 dwt 2017 Tsuneishi Zoushan was reported sold at $31.5 mln. Two Japanese built Ultramax were reported sold: the TAI SHINE 61,000 2012 Shin Kasado seems sold in the high $21 mln, while the XIN XI HAI 60,000 dwt 2017 Mitsui was rumoured to Greeks at $32.5 mln. The Handysize SEA SMILE 38,000 dwt 2012 Shimanami was reported sold at $17 mln. Active week in the tanker market. The most notable deal has been the en bloc transaction involving several modern MR tankers acquired by Danish tanker owner TORM. These vessels, built between 2014 and 2015 by Hyundai Mipo and SPP in South Korea, include: SILVER MONIKA, SILVER EMILY, SILVER AMANDA, SILVER CARLA, SILVER HAGUE, SILVER ROTTERDAM, BERYL and QUARTZ. The total consideration for these acquisitions is $340 mln. Of this amount, $238 million will be paid in cash, while the remaining will be settled with the issuance of approximately 2.65 million shares. Greek shipowner Thenamaris has cashed in from the sale of one of his oldest tankers: the Aframax SEAQUEEN 115,000 dwt 2004 Samsung HI, sold to undisclosed buyers for a price in excess of $30 mln. In the LR1 segment, the HAFNIA THAMES 76,000 dwt 2008 Dalian Shipbuilding was sold to Dynacom for approximately $ 28 mln. Before this sale, the last Chinese-built LR1 sold was the one-year younger UOG AELOS 73,000 dwt 2009 New Times sold in May for $28.8 mln (basis surveys passed). The MR NCC TABUK 46,000 dwt 2006 Hyundai Mipo was reported sold at $22 mln to undisclosed buyers. The Saudi Arabian shipowner continues its fleet renewal, after selling the sister vessel NCC TIHAMA for a slightly higher price of $22.5 mln earlier this month”, the shipbroker concluded.
Nikos Roussanoglou, Hellenic Shipping News Worldwide