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Newbuilding Orders Pick Up as Posidonia Wraps Up

Staying true to tradition, a number of newbuilding deals are believed to have been signed over the course of the Posidonia 2024 event, during the past week. With most of the major shipbuilders and ship owners under one roof, this is no coincidence and a perfect opportunity to solidify new expansion plans among the Greek shipping community.

In its latest weekly report, shipbroker Banchero Costa said that “Chios navigation placed an order for 2x MR2 at Hyundai Vinashin. Price reported to be USD 50.2 million. Deliveries are expected for the 2nd half of 2027. Always on tankers, Asia Pacific Shipping booked two MR2 at Guangzhou Shipyard for delivery in 2nd half of 2027. On drybulk Veritas Ship Management agrred with Hengli Shipyard to build 2x kamsarmaxes. Vessels reported price to be USD $38 million each and delivery to be in 2027. Hong Kong based Vanhui Shipping Co., Ltd placed an order for 2x Ultramax at Jiangsu Haitong with delivery in 2027”.

Source: Banchero Costa

Meanwhile, in the S&P market, things were less exciting. Banchero Costa said that “the excitement of Posidonia 2024 which allegedly generates several NB orders concluded between the various parties and events, did not reflect in the 2nd hand market. Whilst the number of ships for sale remains high, including modern eco type tonnage, the transactions concluded are limited or still to be come to light. The cape market remains very active with a few buyers around sniffing for 10-14 yrs age tonnage, the japanese controlled CAPE KEYSTONE 180,000dwt blt 2011 HHI is reported sold to an active buyer in the market, messrs Agricore, for $ 32.5m. The 2009 blt sistership CORINTHIAN PHOENIX was sold to Hayfin at $29 mill. In the geared sector the eco type ultramax Crown 63 design mv SWANSEA 63,000dwt blt 2015 Dayang is reported sold to undisclosed Buyers for $ 25m. A tess 58 blt 2008 in Zhoushan facilities mv CAPTAIN ANDREADIS got sold for a price of $ 16.35m”.

The shipbroker added that “not many sales reported during last week in the tanker market, although prices remain firm: the suezmax SEOUL SPIRIT 159,000 dwt 2005 Daewoo is reported sold at $34.5 mill. the latest similar-age suezmax reported was the AEGEAN ANGEL 159,000 dwt 2004 Hyundai in April at $30.5 mill basis class due in July ’24. The high-spec chemical tanker STOLT SISTO 46,000 dwr 2010 SLS is rumoured sold to Chinese buyers at 28.5; the sistership STOLT FACTO was reported sold in April at $ 28 mill. Japanese built stst J19 tanker MTM ANTWERP 19,000 dwt 2004 USUKI is reported sold at $15 mill”, Banchero Costa concluded.

Source: Xclusiv

In a separate note, shipbroker Xclusiv said that in the dry bulk market, “on the Capesize sector, Chinese buyers acquired the “Cape Keystone”- 179K/2011 HHI for USD 32.5 mills, while the 2-year-older Scrubber fitted “Nymphe” – 180K/2009 Daewoo was sold for USD 29.3 mills to clients of Hayfin. 3x Panamax vessels, the “Icarus” – 75K/2012 Penglai Zhongbai, the “Thisseas”- 75K/2012 Penglai Zhongbai and the “Atlas” – 75K/2012 Penglai Zhongbai were sold enbloc for USD 52.5 mills. Last but not least, the Handysize “Sider Eva Maria” – 39K/2014 Chengxi found new owners for USD 21 mills. In the wet segment, “on the Suezmax sector, the “Seoul Spirit” – 160K/2005 Daewoo changed hands for USD 34.5 mills. The MR2 “Paradise City” – 50K/2009 SPP and the “Gunmetal Jack” – 50K/2009 SPP were sold for excess USD 28 mills each basis surveys freshly passed. On the MR1 sector, the Scrubber fitted “TRF Mandal” – 38K/2016 HMD and the Scrubber fitted “TRF Marquette” – 38K/2016 HMD were sold for USD 38 mills each. Finally, the StSt Small tanker “MTM Antwerp” – 21K/2004 Usuki were sold for USD 15 mills”, the shipbroker concluded.
Nikos Roussanoglou, Hellenic Shipping News Worldwide

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