Ship owners have been quite active in both the newbuilding and S&P markets over the past week. In its latest weekly report, shipbroker Allied said that “the Newbuilding market continued to hold a fair momentum for yet another week, given the relatively strong number of projects that came to light. As can be seen from the reported transactions, overall activity is skewed significantly towards the tanker sector this week, with a strong number of fresh orders (especially for Aframax units) being placed. Moreover, it should be mentioned, that we are currently seeing a firm buying interest from Greek owning companies for these types of units. In the dry bulk sector, new ordering moved on a rather uninspiring trajectory as of late, somehow in line though, with the recent volatility and uncertainty noted from the side of earnings. Notwithstanding this, given the general good sentiment, we can expect a firm presence from the dry bulk sector to emerge during the second half of the year. In terms of the other sectors, we noticed some small activity in the containership market, with a couple of new orders placed for smaller feeder units. The gas carrier market seems to have taken a momentary pause this week, after a long frenzy of new ordering activity that was noted in prior weeks. Here too we expect things to heat up once more given the current state of global energy markets”.
Similarly, shipbroker Banchero Costa added that it was a “busy week in the tanker segment, where Hyundai Vinashin received nine orders for different types of vessels. Nereus Shipping, Greece, placed an order for three LR2 Aframaxes at $65.2 million each, for delivery in the second half of July 2025. Two other LR2 have been signed by Metrostar, Greece, at a slightly cheaper price.
Japanese owner Nisshin Kaiun placed an order for four 50,000 dwt product carriers at $42.5 million each, for delivery in 2024. Similar business on MRs was done in China, 4 x 49,200 dwt MR2 have been booked by Navig8 Chemicals at New Dayang, China, for delivery during 2024. In the bulker market, Golden Ocean Mgmt. added three more orders for 85,000 dwt Kamsarmaxes to the seven he already has from Shanhaiguan, China, to be delivered for end 2024. Tsuneishi Cebu received orders for four 83,000 dwt Kamsarmaxes for undisclosed accounts and delivery in 2025. Inui Global Logistics, Japan, booked four orders equally shared between Oshima and Imabari for four 40,000 dwt Handysize bulkers at $30.5 million each, which will be delivered for the first half of 2025”.
Meanwhile, in the S&P market, Allied added that “on the dry bulk side, it was a rather mediocre week for the SnP market, given the limited number of transactions coming to light. For yet another week the Capesize market appeared illiquid, with the other size segments though, being more sluggish than usual as well. Thinking about the recent trend from the side of earnings, coupled with current firm asset price levels, it’s no surprise that we are experiencing a more conservative buying attitude right now, with many in no rush to hurry into new investment strategies. On the tanker side, activity appeared slightly softened as well, at least for the majority of the size segments. Here, the volatility surrounding freight earnings, along with the prolonged uninspiring market fundamentals, have left a relatively small space for any form of stability in the SnP market as well. Hopefully, given the recent momentum in the freight market and overall improved sentiment, we can expect things to become more interesting in the near term”.
Banchero Costa added that “a significant number of transactions was reported in the dry market: Handysize VENTURE OCEAN and VENTURE TEAM (both 38,947 dwt, built 2015, Jiangmen Nanyang) have been sold for USD 50 mln enbloc to undisclosed buyers. JUN DE abt 34k blt 2011 SPP was sold with TC attached at USD 23k pday until October, it seems the price is USD 16.3 mln. Clients of Taylor Maritime have sold “MEGA MAGGIE” (31,922 dwt, built 2009, Hakodate Dock, C4x30T) for USD 17.5 mln. In the Supramax segment, the charterers of NEUTRINO – 58K blt 2012 Kawasaki – exercised a purchase option at USD 24 mln. Looking at the Ultramax segment: GOLDEN CATHRINE and GOLDEN CECILIE (both 60,000 dwt, built 2015, JMU) have been sold at USD 63 mln enbloc to undisclosed buyers.
SOHO MANDATE (61K 2016 Dalian Cosco) hearing committed at USD 30.1 mln to Pacific Rim. Chinese blt Kamsarmax THERESA SHANDONG (82,000 2012 JES) hearing sold for USD 22 mln to a Greek buyer. In the Panamax segment, MV FORTUNE UNION (73,729/1998/ Sumitomo/RI SS: 24/11/2023, DD: 24/11/2023) sold for USD 9 mln, while Post-Panamax HUI XIN 8 (93K 2012 COSCO DALIAN) was sold for USD 22 mln basis delivery with SS/DD passed and BWTS fitted. In the tanker market, a considerable deal was done by United Maritime which purchased enbloc “GODAM” (113,553 2006 Samsung) and sister “MANDALA” (2006) + “TIMBERWOLF” (109,647 2008 Dalian) and “THUNDERBOLT” (108,817 2008 SWS) for USD 80 mln. RHAEO RAPID – 13k 2008 blt Jinse (BWTS fitted) – hearing sold bit below USD 7 mln. LR1 tanker: BW LARA- 74k / 2004 New Century (SS 6/24 DD 10/22 BWTS fitted) – sold region USD 13 mln. MR – EASTERN KALMIA / 50359 DWT / 2007 SLS Shipbuilding built committed at region USD 15 mln basis DD due. In the Aframax sector, clients of Viken Shipping have sold the Ice Class 1A vessel “KRONVIKEN” (113,500 dwt, built 2006, Samsung HI) to undisclosed buyers for a price in the region of USD 25.5 mln”, the shipbroker concluded.
Nikos Roussanoglou, Hellenic Shipping News Worldwide