Newbuilding Activity Picks Up

The newbuilding market has picked up pace over the past week. In its latest weekly report, shipbroker Allied Shipbroking said that “the Newbuilding market moved on a more quiet tone during the past week, with the flow of fresh projects coming to light holding though at relatively fair levels. The majority of new orders revolved around the Gas carrier and Tanker sectors, most probably feeding from the overall good sentiment that currently prevails in both right now. The dry bulk market took a small step back in terms of new ordering as of the past week, that came hardly as a surprise, given the overall volatility that prevails in the market as of late and especially the relative uncertainty that underlines the upcoming sector’s performance. On the pricing front, things remained stable at fiveyear highs across the different shipping sectors, though there may well be signs now emerging of a slight softening in price levels to be seen in the near term”, Allied said.

In a separate note, shipbroker Banchero Costa said that “in the tanker market 4 firm + 2 optional MR tankers 50,000 dwt previosuly ordered by Eurogreen Maritime at New times Shipyard were took over by Eastern Pacific at $42mln each with units to be delivered during 2025 and beginning of 2026. Again Eastern Pacific placed another order for 2 x LPG carriers around 88,000 cbm at $94mln each for dely during 2nd half 2025 at Samsung. Daewoo received an order from Venture Global LNG for two more 200,000cbm LNG carriers. Each vessel is priced at $250mln with deliveries expected for the second half of 2026”.

In the S&P Market, Allied noted that “on the dry bulk side, the SnP market resumed on a relatively vivid tone, given the numerous transactions taking place. When thinking about the downward resistance in both asset price levels and freight rates of late, this came hardly as surprise, especially within the current market momentum, where buying interest remains at such robust levels. All-in-all, as we approach the closing of the year, we can anticipate activity to hold at fairly lively levels. On the tanker side, rather inline with the overall bullish sentiment, the volume of SnP transactions continued on a fervent tone for yet another week. At the same time, freight earnings remained on the bullish side, further supporting the current buying appetite, as well as, the increased willingness to overtake “last done” price levels. Given the general positive stance amongst many in the market, we can hardly expect any significant slowdown in terms of liquidity for the final months the year”.

`Meanwhile, Banchero Costa added that “last week a large number of Postpanamax was sold: CMB Chardonnay 95,707 dwt built 2012 Koyo reported sold to Greek Buyers at $21.5mln, the vessel is BWTS fitted. Lara Venture 93,758 dwt built 2011 Shanaiguan was reported sold to Middle Eastern Buyers at $20.6mln, Jing Lang and Jin Mei 93,280 dwt both built 2010 Jiangsu were reported sold enbloc to Evalend at $17.25mln per unit. Handies, Royal Harmony 37,238 dwt built 2011 Saiki was reported sold at $16.5mln to undisclosed Buyers, the vessel is BWTS fitted and Orient Mate 32,471 dwt built 2014 Korea Yanase was reported sold at $16.9mln to Greeks, the vessel is BWTS and Scrubber fitted. On tankers 2 VLCC were reported sold, the Shiblah 316,476 dwt built 2003 Hyundai was reported sold to Chinese Buyers at mid/high $45mln while City of Tokyo 303,994 dwt built 2004 Universal was reported sold at $49mln. Greek interests purchased the Suezmax resale Aquavirtue 156,800 dwt built 2022 Samsung for $76mln”, the shipbroker concluded.

Nikos Roussanoglou, Hellenic Shipping News Worldwide