More Container Ship Orders Materialize

Credit: kurt-cotoaga-unsplash

A number of newbuilding contracts for container ships took place over the course of the past week. In its latest weekly report, shipbroker Allied said that “following several months of reports on the enquiries of the biggest container lines, the past week finally delivered orders from Maersk and CMA CGM along with news of Evergreen progressive its own very substantial order, which has not yet concluded but is to be for 24 vessels split between Samsung HI and Nihon shipyard. 

Newbuilding Market

In a similar note, shipbroker Banchero Costa added that the newbuilding market continues to thrive with 31 new contracts registered during the past week. Orders in the bulk segment take the lead. German shipowner Vogemann turned out to be behind the order of four Capesize vessels with delivery 2026 at a price of USD 63.5 mln /each and four Kamsarmax at a price of USD 34.5 mln /each from Hengli Heavy Industries. Hegli is also involved in a negotiation with TMS Dry for 10x Kamsarmax (the Greek shipowner recently ordered four Capesize at Cosco shipyard in Yangzhou for 64 million each). After ordering 4x 40,000 dwt openhatch BCs from Jiangmen Nanyang in August 2022.

Meanwhile, in the S&P market, Allied said that on the dry bulk side, the volume of transactions resumed in a tighter mode that has taken hold of the overall SnP market for some time now. Rather in line to this, asset price levels have remained on a negative track, reaching new levels that will nourish some fresh interest yet again. For the time being, only the Panamax size segment has indicated some sort of positive trend in terms of activity as of the past month or so. Moreover, given the current freight market, it would be hard to see activity shifting considerably, especially amidst the summer period.

Buying Appetite Stagnant

On the tanker side, the tardy period was sustained for yet another week, given the small number of vessels being reported as sold. Given the current liquidity levels, it seems rather obvious that buying appetite has been excessively stagnant, especially at this asset value regime”.  Meanwhile, Banchero Costa added that it was a “pretty active week in the dry market, especially for modern eco tonnage: Starting from kamsarmax, the AQUAVITA SKY 81,000 dwt 2019 Jiangsu Hantong is rumored sold at USD 32 mln to Korean Owners, while the same year built JY HONG KONG 81,000 dwt Chengxi has been sold on commercial auction; on the 21st of June the sistership JY PACIFIC has been sold at USD 28.76 mln. Japanese Owner Kambara Kisen is rumored to have found a buyer for its kamsarmax RIKKE 82,000 dwt 2016 Tsuneishi Zhoushan: it seems that Hellenic Star has bought the Vessel for USD 27 mln. 

In the tanker market, the shipbroker added that “in the past week, few transactions have been recorded in the tanker segment. Especially larger ships changed owners, starting from the VLCC LULU 316,507 dwt 2003 Hyundai which was sold to Chinese buyers for USD 42.5 mln. For comparison, about a month ago, the GOOD NEWS 319,430 dwt 2002 Samho had been purchased at USD 43 mln. On the other hand, the more modern and BWTS fitted ATHENIAN GLORY 300,000 dwt 2011 Hyundai is reported sold to Greek interest for USD 66 mln.

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Source: Hellenicshippingnews