Eastern Marine Service Co., Ltd. 
News and Events
NEWS
  • UN agencies join forces to tackle extreme maritime weather
  • Shipping in St. Kitts and Nevis prepares to go digital
  • Singapore world's leading shipping centre for 11th consecutive year
  • IMO Launches Toolkit to Curb Insider Security Threats
  • PMA exceeds expectations in Flag Registry and reinforce its fleet growth strategies
Newbuildings: Tankers and Bulkers the Main Targets
Source:Hellenic Shipping News Worldwide | Author:MAX | Published time: 2023-08-01 | 451 Views | Share:

Ship owners have kept ordering newbuildings, with bulkers and tankers the main targets. In its latest weekly report, shipbroker Allied Shipbroking said that “the newbuilding market was quieter than in the previous week, but there was activity to be noted across sectors, particularly in the tanker sector. Kurow Shipping is a relatively new, low-profile player which owns vessels with links to Russian trades. Tradewinds suggests that the firm could be based out of Dubai or Turkey, although it appears far from certain. Given the risks of isolation from the West that participants in restricted trades face, this deal could represent and demonstrate an expectation that the new, larger ‘shadow fleet’ is here to stay and will have a robust network willing to step in where Western shippers, insurers etc. are unwilling. Up to six VLCCs have been ordered by Tor Olav Troim’s Magni Partners for around $138m per vessel, following on from Dynacom’s six orders that came to light last week. In the gas sector, Marinakis’ Capital ordered the largest CO2 carriers, capable of holding 22,000cbm of liquid CO2 (or LNG or ammonia). They represent the first such order since DACKS received an order for two 7,500 cbm CO2 carriers back in 2021”.



In a similar note, shipbroker Banchero Costa added that “bulkers orders kept flowing, especially to Chinese yards: Hong Kong-based Owner Agricore Ship Management placed an order at Chengxi Shipyard for 2 x 84,000 dwt Kamsarmaxes for a price of $35.5 mln apiece, dely June and Dec 2026. The Greek Owner Byzantine Maritime exercised an option for a fourth 41,000 dwt large Handy at New Dayang for dely Dec 2024; the price is still undisclosed. After a buyer backed out of an order, DH Shipbuilding quickly found another one in Atlas Martime.



The Greek shipowner has confirmed the construction of 2 x Suezmax tankers with an option for 2 more. The vessels will be delivered in 2025 and 2026. Kurow Shipping placed an order for 4 + 4 Aframaxes at Zhoushan Changhong (a chinese containership specialist that started building tankers only in late 2022) with delivery scheduled in 4Q2025 and the 1H2026. The gas sector continues to thrive. NYK Line added a fifth 174,000 cbm LNG unit from Hyundai for $262 mln, dely October 2027. Capital Maritime ordered 2 x CO2 carriers at a cost of $70.75 mln each from Hyundai Mipo, the vessels have CO2 as the principal trade, but will be allowed to trade also LPG and ammonia. Hyundai Samho also secured an order for two 88,000 cu.m. LPG carriers set for delivery from December 2025. Hoegh Autoliners exercised an option for 4 X 9,100 ceu bringing to 12 their order with China Merchants Heavy Industries (Jiangsu), dely in 2026 for the last four”, said the shipbroker.



Meanwhile, in the S&P market this week, Allied said that “on the dry bulk side, things moved yet again on a sluggish tone, with the number of vessels being reported as sold appearing relatively low. On the other hand, in the separate size segments, the Capesize market resumed on a fairly vivid mode, retaining its positive momentum in terms of activity. At the same time though, the Supramax size segment is now indicating clear bearish signs, underlying further the recent overall slow pace in the SnP market for some time now. As for the asset prices, things remain stable, maybe due to the lack of fresh sales. On the tanker side, the trend remained tardy as well, with minimal fresh activity taking place. Here, it seems that the inflated price levels, combined with the typical summer lull, has pushed the market on a more sluggish phase. At the current sentiment, we can expect a fairly quick rebound in the near term”.



Banchero Costa added that “good activity across the different sectors; Chinese leasing company completed the sale of a package of Kamsarmax with the JY ATLANTIC 81,000 dwt built 2019 Chengxi with an online sale at a price of $30.15 mln. Norden disposed the eco type NORD HYDRA 77,000 dwt built 2014 Imabari for region $23.2 mln (purchase option earlier declared). Greek owner Spring Marine sold the RESTINGA 82,000 dwt built 2006 Tsuneishi Zosen for a reported price in the high $13 mln which was soft compared to the sale of the sister BULK JAPAN a few months back in the low $15 mln.



Chinese smaller Handy tonnage is facing pressure from the present market status; Panocean had to accept a level in the high single digit to dispose 2 x 33,000 dwt built 2009 Maple Leaf, gone in the high $9 mln each. In the tanker sector a 2009 VLCC, the ASTRO CHLOE, 318,000 dwt built 2009 Hyundai was reported sold to Chinese buyer at $62 mln. In a press release Imperial Petroleum reported the sale of the LR2 STEALTH BERANA 115,000 dwt built 2010 Samsung to an affiliated company for a price of $43 mln. Two relevant sales in the product tanker market, the 2015 Dong-A Triton 50,000 dwt built Hyundai was sold to Sonagol for $38 mln and the 2008 New Jupiter 53,000 dwt built GSI for $21.5 mln to undisclosed Buyers”, the shipbroker concluded.