Dry Bulk S&P Market Heats Up
Surge in Ship Orders Signals Market Recovery
Ship owners are ramping up their investments in dry bulk newbuildings and second-hand vessels, according to the latest report from shipbroker Banchero Costa. Notable orders include dual-fuel ammonia carriers from Dalian Shipbuilding Industry and multiple container ships from various Singapore-based companies. The report highlights a significant uptick in activity across different sectors, indicating a robust recovery in the maritime industry.
Increased Orders Across Multiple Sectors
The recent surge in ship orders reflects a growing confidence among ship owners in the maritime market. Banchero Costa’s report details several key transactions, particularly in the container sector. Dalian Shipbuilding Industry in China has secured an order for two 7,165 TEU carriers from Singapore’s Asiatic Lloyd, with each vessel priced at $40 million. These dual-fuel ammonia carriers are scheduled for delivery in the third quarter of 2028 and the first quarter of 2029.
Additionally, Eastern Pacific Shipping, another Singapore-based firm, has placed an order for four 6,000 TEU carriers from Hengli H.I. in China, with deliveries expected in the third quarter of 2027. OVP Shipping, a Chinese company, has also ordered two 4,350 TEU carriers from Taizhou Jianxing H.I., set for delivery in mid to late 2027. Furthermore, Yangzijiang Shipbuilding has secured an order for six 2,900 TEU carriers from India’s Interasia Shipping, with deliveries slated to begin in early 2028 and conclude by mid-2030.
In the gas sector, Lepta Shipping from Japan has ordered two 40,000 cubic meter LPG carriers from YangziMitsui in China, each priced at $67 million and set for delivery in the second quarter of 2026. The chemical sector is also witnessing activity, with Zhejiang Yongxin Shipping in China securing an order for three 7,300 DWT chemical carriers from Turkey’s Stella Gemi, expected to be delivered by mid-2027.
Active Market for Second-Hand Vessels
The second-hand market is equally vibrant, as reported by shipbroker Xclusiv. The 36th week of 2025 marked a particularly busy period for bulk carrier sales. In the Capesize sector, Greek buyers acquired two vessels, the “Frontier Neige” and the “Cape Jacaranda,” for $25 million each, with delivery scheduled for 2026. The Post Panamax segment saw the sale of the “NBA Rubens” for $15 million, while Kamsarmax transactions included the “Kaya Oldendorff” sold for mid/high $34 million.
In the Ultramax sector, Greek buyers purchased the scrubber-fitted “Hakata Queen” for $23.5 million. Two Vietnamese-built Ultramaxes, the “Pacific Ace” and “Pacific Pride,” were sold for over $13 million each. The Handysize sector also saw activity, with Nova Marine acquiring the “Lilac Harmony” for low $25 million and Turkish buyers purchasing two Tsuji Heavy vessels for $22 million en bloc.
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In the wet segment, the Suezmax sector recorded the sale of the “Jasmine Knutsen” for $33 million, while Indian buyers acquired the “Samurai” for $39 million. Navios Maritime committed to two newbuilding resales in the Aframax/LR2 sector for $66.5 million each. The small tanker sector also saw transactions, with the “Eastern Orchid” sold for around $17 million.
Overall, the recent surge in both newbuildings and second-hand vessel transactions indicates a revitalized maritime market, with ship owners eager to expand their fleets in anticipation of future demand.
