Increased Dry Bulk Newbuilding Orders Highlight Greek Owners’ Confidence

This week has seen a surge in newbuilding orders within the dry bulk sector, particularly from Greek shipowners. According to the latest report from shipbroker Banchero Costa, Japan’s Imabari shipyard has secured an order for two capesize vessels, each with a deadweight tonnage (dwt) of 181,500. The vessels, contracted by Navios Maritime, are priced at $67.1 million each and are scheduled for delivery in the fourth quarter of 2029.

In the tanker segment, UK-based Zodiac Maritime has placed an order for a single Suezmax vessel, with a capacity of 157,200 dwt, from PVSM Vietnam. The vessel’s price is set at $78.67 million, with delivery expected in January 2027. Additionally, South Korean company Woolim Shipping has ordered three tankers, each with a capacity of 13,000 dwt, from K Shipbuilding in Korea. Each tanker is priced at $30 million, with deliveries planned from the third quarter of 2027 to the third quarter of 2028. In the container sector, Hong Kong’s Manqiang Shipping has contracted four 1,900 TEU carriers from Yangzijiang Shipyard in China, priced at $29.5 million each, with deliveries scheduled between June 2028 and April 2029.

Active Sale and Purchase Market for Dry Bulk and Tanker Vessels

In a separate analysis, shipbroker Xclusiv reported robust activity in the sale and purchase (S&P) market for dry bulk vessels this week. The interest spanned various sizes, with significant transactions in both larger and handy segments. Notably, the Capesize vessel “CAPE KENSINGTON,” built in 2006, was sold for approximately $26 million. In the Post-Panamax sector, two sister vessels, “ROZA” and “TRINITY I,” both built in 2010, were sold for around $11.5 million each. The Kamsarmax “THREE SASKIAS,” built in 2014, achieved a sale price of approximately $26.8 million, while the “ASL MOON,” built in 2008, was sold to Chinese buyers for $13.6 million.

The Panamax sector also saw activity, with the vessel “OCEAN LION,” built in 2005, selling for around $10 million. The Ultramax “JIN PING,” built in 2014, changed hands for a high of $23 million, while the Supramax “CORAL GEM,” built in 2010, was sold for $14.5 million. The Handysize market remained steady, with the “CL CONTIGO,” built in 2015, achieving a sale price of $19.5 million, and the “AFRICAN PIPER,” also built in 2015, selling for over $18.5 million.

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Broad Activity in the Tanker Sector

The tanker market also experienced a balanced distribution of sales across various segments, including VLCC, Suezmax, Aframax/LR2, and MR vessels. In the VLCC sector, the “KIHO,” built in 2006, was sold for between $51 million and $52 million, while the “HAISHEN,” built in 2005, changed hands for $38 million. Greek buyers acquired the Suezmax “SIGRUN,” built in 2013, for $65 million.

In the LR2 segment, the “STI SOLIDARITY,” built in 2015, was sold to Hayfin Capital for $59.8 million. The Aframax “SINBAD,” built in 2009, achieved a sale price of $40 million, while the LR2 “ZENOVIA LADY,” built in 2009, was sold for $41 million. The LR1 sector saw the “HAFNIA ZAMBESI” and “HAFNIA YANGTZE,” both built in 2010, sold for $20 million each. In the MR2 segment, the 2020-built sister vessels “NORD MARVEL” and “NORD MAVERICK” were sold for high $44 million each, while the “ALTAIR,” built in 2017, sold for $38 million. The week concluded with the “MARINER A,” built in 2005, being sold to Nigerian buyers for $12 million.