S&P Activity Rising, as Newbuilding Orders Stall
In a separate note, shipbroker Banchero Costa said that “the gas sector has been at the center of the news for quite some time with the situation between Russia and Europe; LNG carrier orders dominated the contracting activity last week despite prices hikes: a large LNG carrier is now priced around $224 mln in South Korea, was priced around $210 mln at the beginning of the year and around $200 mln at the beginning of October last year. The Joint Venture between NYK Line and China Merchants placed an order for 6 x 174,000 cbm at Hudong for delivery 2025 and 2026 at a reported $201 mln per unit.
Vsls will be chartered out on long period to CNOOC. Knutsen OAS Shipping ordered 1 x 174,000 cbm at Hyundai Samho for delivery 12/2025 at $224.5 mln, the vessels will be employed on long period to Engie. NYK went to Hyunday Samho for 1 x 174,000 cbm for delivery 2H 2025 at usd 223 Mio. Himalaya Shipping of Norway increased their previous order at New Times adding 4 x 208,000 dwt bulkers for dely mid 2025/beg 2026 at levels around $67 mln per unit; the vessels will be fitted with dual fuel LNG engines”.
Meanwhile, in the secondhand market, Allied noted that “on the dry bulk side, SnP activity has held firm over the past two weeks with buying interest mainly focused on the smaller size segments. The freight market is still showing positive signs, resulting in an increased buying appetite. On the pricing front, we continue to see significant increases taking place, reaching levels of close to 11% growth for some size and age groups, indicating the bullish sentiment that currently holds in the market. On the tankers side, the rebound that occurred recently in the market rekindled buying appetite. Most transactions mainly focused in around Aframax and MR units which also showed the biggest improvement in earnings. The question that arises now is as to how well this renewed buying appetite will be able to hold moving forward, especially as the market continues to heat up and put further upward pressure on asset prices. For the time being it seems as though there is still ample positive momentum left to go on”.
Banchero Costa added that “Japanese controlled Azul Legenda 206,000 dwt built 2008 Imabari (SS due 2025 BWTS fitted) was sold at $26.8 mln, one month back Baosteel Evolution 206,000 built 2007 Imabari (SS due July 2022 BWTS fitted) was reported at $22.5 mln. In the Panamax segment Sea Hermes abt 82,000 dwt built 2013 Xiamen (Tier ii) was sold to turkish buyers at $23.5 mln, furthermore SITC Lushan abt 76,000 dwt buit 2013 Yangfan was reported at $22 mln. Chinese buyers were reported to be behind purchase of Siana abt 73,000 dwt built 1999 Hyundai at $9.2 mln basis survey due June 2022.
Mitusi 56 Bulk Orion built 2012 Mitsui was sold at $22 mln, two months ago Orchid abt 56k blt 2012 Mistui was reported at $22.6 mln. An open hatch boxed log fitted Handy Anacapa Light abt 33,000 dwt built 2005 Saiki (SS due 2025, BWTS fitted) was purchased by Chinese buyer at $13.7 mln. In the tanker market, c. of Euronav were behind the purchase of the two sisters Chelse and Gillie abt 300,000 dwt built 2019 and 2020 Daewoo reported at $179 mln en bloc. Olympic Loyalty abt 307,000 dwt built 2005 Samsung (CAP 1 BWTS fitted) was sold at $34.5 mln. Suezmax Stena Supreme abt 160,000 dwt built 2012 Samsung was commited at $37.5 mln to c. of Delta Tankers . Two modern MR tankers were reported during the week Matuku abt 50k blt 2016 at $30.2 mln and Elandra Pine abt 48k blt 2018 HMD at $34 mln, a few weeks ago Largo Sea abt 50k blt 2016 SPP was reported at $29.8 mln”, the shipbroker concluded.
Nikos Roussanoglou, Hellenic Shipping News Worldwide