Newbuilding activity was somewhat limited over the past week, after a series of very strong contracting. In its latest weekly report, shipbroker Allied Shipbroking said that “the newbuilding market prevailed in a state of clampdown as of the past week, with a very limited number of new projects coming to light during the same time frame. Yet again, we noticed mobility from the dry bulk sector, with a fresh order for an Ultramax vessel on behalf of Turkish interests. Further to this, while we continue experiencing an improving sentiment, to a fair extent due to the solid support found from the recent upward rally in spot freight levels, we can expect further firm projects moving forward within the final quarter of the year. On the other hand, in most other main sectors, things appeared fairly quite, that may well suggest that we are in a state of plateau for some of them, in this market regime at least. All in all, already amid the final part of the year, we can anticipate the overall flow of new ordering to continue on a relatively firm footing”.
Source: Allied Shipbroking
In a separate note, Banchero Costa added that “during the week Lavinia Ship management placed an order for 6 x 82,000 dwt Kamsarmax, 4 units will be built at Qingdao Yangfan and the other two at COSCO with vessels to be delivered between 2025 and 2027. Tsuneishi Zhoushan received an order for 2 x 81,200 dwt Kamsamax from Safe Bulkers, vessels to be fitted with dual fuel propulsion. Vessels are set for delivery by end 2026 and and 1st half of 2027. Singapore owners Jaldhi Overseas agreed to build with YAMIC 2 x 40,000 cbm LPG carriers with deliveries during May and December 2027, the reported price was $67 mln each”.
Source: Banchero Costa
Meanwhile, in the S&P market, Allied said that “on the dry bulk side, it is clear that the snp market is on bullish track for some time now, amid a rebalance in flow of transactions coming to light. Notwithstanding this, as of the past week we witnessed a brief pause in reported activity of some size segments, although it was insufficient to alter the recent sound upward momentum. At the same time, asset price levels continue to rise across all size segments and age groups, a mere reflection of the current robust buying appetite prevailing in the market. On the tanker side, despite the recent positive signs in sales volume, the snp market continues experiencing some steep ups and downs periodically. On the other hand, this has not discouraged price ideas climbing even further among interested parties, seemingly attuned to the recent trend noted in the spot freight earnings”.
Banchero Costa added that “the Capesize sector attracts interests with Greek owners both reported buying and selling tonnage. A Japanese controlled Capesize which is a declared purchased option by NYK was sold back to back to a Greek Buyer, allegedly Alberta Shipmanagement who recently purchased another Cape the AM GIJON. The ship is the FRONTIER BRILLIANCE 181,000 dwt built 2013 Imabari (fresh of SS) at a reported price around $30 mln. In the Kamsarmax sector the STL MIRACLE 82,000dwt built 2008 Oshima (SS/DD freshly passed BWTS fitted) was committed in the low $15s mln. A couple of eco-type Ultramax were rumoured, the MARLIN V 61,000 dwt built 2013 Iwagi has seen offers around $20 mln which seems fairly soft, but the vessel was reported in poor conditions and class due.
Source: Banchero Costa
In comparison the sister ship one year younger ATLANTIC ISLAND 61,000 dwt built 2014 was sold around $24 mln. Active week in the tanker segment with volumes remaining strong. A major deal in the Suezmax segment with Greek Owner CM Lemos reported having sold the CHEROKEE 158,000 dwt 2016 Hyundai Samho to Nordic Ameircan Tankers at the stunning of $72 mln. On smaller sizes, Naftomar was rumoured behind the purchase of LR1s SIENA and AESOP 75,000 dwt 2012 Hyundai Mipo for $83 mln enbloc. In the MR segment, the ALLIED PACIFIC 47,000 dwt 2010 Hyundai Mipo was rumoured sold to US based buyers at $28.5 mln, while the one year older UOG HELIOS 46,000 dwt 2009 Hyundai Mipo seems sold at $25.5 mln”, the shipbroker concluded.
Nikos Roussanoglou, Hellenic Shipping News Worldwide
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