Newbuilding Activity Picks Up

Newbuilding orders have picked up last week, while S&P activity also remained brisk, on the back of increased demand for dry bulkers. In its latest weekly report, shipbroker Banchero Costa said that “Singapore based Pioneer Bulk, after his debut on the Newbuilding scene with an order for 8 x tankers was reported again with an order for 6 x 63,500 dwt Ultramax BC at Jiangsu New Hantong at $34 mln each. Greek owner Newport S.A. was rumoured at Oshima for 3 x 84,000 dwt Kamsarmax; the price remained undisclosed, delivery are expected from November 2025 to December 2026. The tanker segment shows no signs of slowing down and Greek shipowners continued to lead the way: Procopiou’s Dynacom added 8 x Suezmax vessels to its orders at the Chinese New Times Shipbuilding (where it also has LR1s and VLCCs under construction), after ordering the first 2 Suezmaxes just last February. No official information about price were disclosed, but it’s expected to be around low $80 mln per vessel. Frangou’s Navios Maritime returned to China’s Zhoushan Changhong International Shipyard for 2 additional LR2s (scrubbers fitted and LNG methanol ready), deliveries settled in March and September 2027. The order brings to a total of 6 the vessel presently on order at this yard for Navios. UK-based Union Maritime chose Wuhu Shipyard to build 2 x 49,000 dwt MR2s (methanol ready) at a price of $44 mln each. Dely expected in March and September 2026 and option to add 2 more. 4 additional 18,500 dwt (IMO 2/methanol ready) chemical tankers were added to Union Maritime’s order at a price of $31 mln each, dely scheduled throughout 2026. Pan Ocean was linked to an order for 4 x 59,000 dwt MR2 at HMD for a record price of $51.75 mln per vessel, breaching the $50 mln barrier for the first time since 2008 crisis. The scrubber-fitted newbuilds will be delivered in 2026, starting in May through August. Formerly Jiangzjou Union Shipbuilding, now renamed New Jiangzhou Shipbuilding, has secured an order for 4 x duplex stainless steel chemical tankers for delivery in 2028 from Netherland’s based Mercurius Shipping. For the time being, size and price remain undisclosed”, Banchero Costa said.

Meanwhile, in the S&P market, the shipbroker noted that “after offers were invited two weeks ago, the Japanese controlled baby cape Spring Samcheonpo 120,000 built 2009 Sanoyas (SS/DD due July 2024) was reported sold to Chinese buyers at $18.4 mln. In the Kamsarmax segment the Sammy 82,000 dwt built 2012 Tsuneishi (SS due 2026, scrubber fitted) was committed at $24.6 mln, two weeks ago the Key Guardian 82,000 dwt built 2011 Sanoyas was reported at $23.7 mln. The Susanoo Harmony 38,000 dwt built 2020 Saiki (SS due 2025) was reported at $29.5 mln. In the tanker market GNMTC were reported to be behind the purhcase of the modern LR2 Calypso 112,000 dwt built 2019 Samsung (Scrubber fitted) at $79 mln. The Aurviken 112,000 dwt built 2019 Samsung (Scrubber fitted) was sold at auction at $73 mln”, Banchero Costa concluded.

In a similar report, Xclusiv mentioned that “the buying appetite on the dry bulk sector remains high across all segments, with 14 vessels finding new owners this week.On the Capesize sector, the Scrubber fitted and Electronic M/E “Hl Harmony”- 180K/2015 Dalian was sold for USD 43 mills to clients of JPM basis TC attached till October 2026- January 2027 at USD 24K/day. Chinese buyers acquired the mini-Capesize “Spring Samcheonpo” – 120K/2009 Sanoyas for USD 18.4 mills. Moving down the sizes, the Post-Panamax “Federico II”- 92K/2009 Oshima was sold for USD 19.6 mills to Chinese buyers, while the Kamsarmax “Scarlet Island” – 82K/2014 Tsuneishi Cebu is now committed at region USD 29mills to Greek buyers. The Ultramax “Aries Sumire” – 64K/2020 Shin Kurushima found new owners for USD 36.3 mills, whilst the Electronic M/E “Kmarin Genoa” – 63K/2014 Jiangsu New Hantong changed hands for USD 20 mills basis TC attached at USD 10.1K/day till Sep 2024/Mar 2025. On the Supramax sector, the Electronic M/E “Rui Fu An” – 57K/2013 Jiangsu New Hantong was sold for mid/high USD 17 mills. Last but not least, clients of Dadaydillar acquired the Handysize “FW Excursionist”- 34K/2019 Hakodate for USD 27 mills, while on the same sector, the 13-year-old “Morges” – 36K/2011 Shinan found new owners for mid USD 14 mills”.

In the tanker segment, “it was one of the busiest weeks of the tanker S&P activity for this year, with 13 transactions reported. The Aframax “Calypso” – 112K/2021 Sumitomo was sold for USD 79 mills to Libyan buyers. Clients of Thenamaris acquired 2x MR2, the “Jiangsu Newyangzi Yzj2023-1515” – 50K/2025 JNS and the “Jiangsu Newyangzi Yzj2023-1516”- 50K/2025 JNS for USD 53 mills each. On the same sector, the “Stolt Facto” – 46K/2010 SLS changed hands for USD 28 mills, while the 20-year-old “Jag Pahel”- 46K/2004 Hanjin found new owners for USD 14.5 mills basis delivery by end of June 2024. Finally, on the Chemical sector, the StSt “Chem Bulldog” – 21K/2010 Asakawa was sold for USD 23 mills, while on the same sector, Turkish buyers acquired the Ice Class 1A “Patagonia” – 17K/2006 Qiuxin and the “Paterna” – 17K/2006 Qiuxin for USD 11.3 mills each”, Xclusiv concluded.

Nikos Roussanoglou, Hellenic Shipping News Worldwide