Home / Shipping News / Hellenic Shipping News / Shipping Investments on Steady Pace for Both Newbuildings and Secondhand Vessels

Shipping Investments on Steady Pace for Both Newbuildings and Secondhand Vessels

Investments in the newbuilding and S&P markets have been largely steady over the course of the past week. In its latest weekly report, shipbroker Intermodal noted that “SnP activity remained strong for yet another week, with buyers in the tanker realm focusing mostly on the clean sector while firm interest was noticeable across all dry bulk sizes. In the tanker sector, we had sale of the “BANDA SEA” (105,576dwt-blt ‘07, Japan), which was sold to Greek buyers, for a price in the region of $21.0m. On the dry bulker side sector, we had the sale of the “ROSCO PALM” (82,153dwt-blt ‘11, China), which was sold to undisclosed buyers, for a price in the region of $26.0m.”, the shipbroker noted.

Source: Intermodal

In a separte note, Allied added that “on the dry bulk side activity levels on par with the levels noted during the week prior, with buying interest still shared equally amongst the entire spectrum of segments both in terms of age and in size. It is worth noting that prices still showed an upward trend this week which is driven by the improving sentiment which still holds in the overall freight market these past few months.

Source: Allied Shipbroking

On the tanker side, an equally fair market mobility was noted, with buying interest mainly focused on MR units, a fact that is consistent with the recovery in rates this segment has shown of late. Prices across the board have showed an increase range of between 2% and 5% of late despite the relatively slow pace noted in terms of activity. The current energy crisis appears have given a fair breather for this sector, rekindling buying interest as the continue to see traders look to take better advantage of the vast price arbitrage present for crude oil and its by-products”.

Meanwhile, Allied commented that “activity in the newbuilding market was slightly reduced compared to the previous week’s figures and especially in terms of the variety in new orders that came to light. The highlight of the week and only fresh project that came to light was the order placed by COSCO Shipping for 15 Pure Car and Truck Carrier units at 3 different Chinese shipbuilders.

Source: Allied Shipbroking

At first glance it could be said that an important factor that has contributed and potentially continues to contribute to the decline in market activity has been the uncertainty that has emerged in the market as part of China’s lockdown measures which have already caused a fair bit of disruptions in shipping markets. On the pricing front, NB values continue to show an upward pressure, influenced by the rising steel plate prices. Despite this most recent softening in activity, overall sentiment remains positive for most of the main shipping sectors providing ample appetite for more activity to take place in the near-term”.

Source: Intermodal

Intermodal added that “LNG and Container contracts continue to keep activity in the newbuilding market healthy through the Easter holidays, with LNG units having the lion’s share last week, followed by one neo-Panamax container deal while no sales for the most conventional type of units emerged. Starting with the LNG sector, Japanese owner MOL concluded a deal for the construction of four 175,000cbm units at Hudong Zhonghua in China. These four units represent the first firm newbuildings from Qatar Energy mammoth project, out of a total 151 LNG carrier reserved berths. An order of two dual fuelled 174,000cbm units also took place from the same owner MOL, at DSME yard. Owner will pay around $213.0 million for each vessel, which were options that the company held from a last year order. Lastly, a deal was inked between Adnoc and Jiangnan Shipyard for two 175,000cbm units. On the Container front, it came to light that Daehan shipyard secured its first neo-panamax order consisting of four 7,200teu units from Greek owner Danaos. Each vessel will cost around $94.0 million”, the shipbroker concluded.
Nikos Roussanoglou, Hellenic Shipping News Worldwide

Recent Videos

Hellenic Shipping News Worldwide Online Daily Newspaper on Hellenic and International Shipping