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Home » Plethora of Newbuildings Contracted Last Week

Plethora of Newbuildings Contracted Last Week

by Joshua
November 20, 2023
in Coast To Coast

Dozens of newbuildings were contracted last week, as more owners are returning to the market. In its latest weekly report, shipbroker Allied said that it was “another busy week with almost 40 new vessels added to orderbooks. There has been solid buying appetite on both the dry and the wet fronts, with the tanker side taking the lead at 18 vessels. Arcadia Shipmanagement has contracted new vessels for the first time since 2015 with its order for two suezmaxes, thought to be scrubber fitted. The deal continues the record-breaking year for the size segment, which has seen the highest number of orders placed in a year since 2015.

This could be a form of ‘catch-up’, as recent focus on container and gas carriers has left the tanker orderbook thinner than it might otherwise have been. The vessels 2026 delivery could have been part of the reasoning behind a S. Korean yard, with Chinese yards thought have essentially no such slots in 2026 remaining. In terms of bulker contracting, the leading deal came from EPS, who are reportedly at the LOI stage and seeking to expand their Newcastle max series at Qingdao Beihai. The owner has already contract 6 firm vessels at the yard this year, and another 4 order at JMU”.

In a similar note this week, shipbroker Banchero Costa said that “global One Energy placed an order for 4 x MR2 50,000 dwt at Yangzijiang Shipbuilding. The vessels will be delivered during 2026 and 2027. The price reported is $44.5 mln per vessel. K Shipbuilding received an order from USA based International Seaways for 2 x 75,000 dwt product carriers. The vessels were priced $57 mln each and deliveries are expected in 2026. TMS Dry added 4 more scrubber fitted Newcastlemax at state owned Cosco Yangzhou. The vessel were priced $67 mln each and delivery were set in 2026 and 2027. China Merchants Energy Shipping agreed to 4 x Kamsarmax at Jinling, deliveries will start in Q1 2026”.

Meanwhile, in the S&P market, Allied said that “on the dry bulk side, things remain on a modest trajectory, while the weekly number of snp transactions moves at usual levels for the period. Sound buying interest prevailing across all size segments while Capesize and Handysize transactions succeeded in moving ahead of the pace according to the past 4-week trend metrics (page 1). Moreover, as we continue feeling an upward pressure in price ideas and spot earnings find further resistance points, liquidity may appear challenging in the near term. On the tanker side, in the absence of bigger size segments, Aframax took the lead in pushing things ahead at this point, having found support in the recent cash and shares deal of 8 LR2 units. Moreover, with asset prices continuing to attract positive boosts, we may anticipate continuing robust interest in this sector in the upcoming period”.

Banchero Costa added that “the Chinese owners of the XIN BIN HAI 180,000 dwt built 2010 Dalian (BWTS) managed to sell the vessel to a Greek Buyer for $21.5 mln. Last week offers were due for the modern eco type TRUE CARTIER 181,000 dwt built 2014 Imabari (scrubber and bwts), allegedly they have seen region $37 mln and holding for $38 mln to sell. The Japanese owned SHIMANAMI QUEEN 61,400 dwt built 2011 Shin Kasado (bwts) invited offers last week and was reported sold for a price in the mid/high $18 mln; a 2013 Japanese Supramax ROYAL KNIGHT 58,700dwt built 2013 Kawasaki (bwts, non eco) invited offers too and has been reported sold at $19.5 mln. In the Handysize sector APRILIA 36,000 dwt built 2017 Jiangdong (bwts) was sold to Greek Buyers for a price in region/excess of $20 mln, whilst the smaller ATLANTIC RUBY 33,000 dwt built 2012 Fukuoka received interests in the low $13 mln.

In the tanker sector we have seen an increase of activity in the larger VLCC segment and a revive of Middle Easter interests. Though the most relevant deal announced is the purchase of eight LR2 by TORM; the vessels are all eco type Tier 1 built in Hyundai Samho between 2010 and 2012 for a total enbloc price of $399 mln of which $239 mln in cash and residual in shares. The deliveries will be completed by Q1 2024”, the shipbroker concluded.

 


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