Newbuilding Activity Slowing Down | Hellenic Shipping News Worldwide
After a flurry of newbuilding orders during 2024, this year it seems like ship owners have been treading more cautiously in the market. In its latest weekly report, shipbroker Banchero Costa said that “it was a slow week with a diverse range of orders. Options are increasingly being exercised in newbuild contracts (particularly for feeder) thanks to pre-negotiations and guaranteed slots. The chemical tanker sector remains active, especially in the small to medium range. Essberger, in collaboration with DAL, has signed a contract for 2×13,000 DWT stainless steel, dual-fuel methanol chemical tankers from Nantong. China Shipbuilding Corporation will construct 2×210,000 DWT bulk carriers for Chinese Maritime Transport at a cost of $77.5 million each, with delivery scheduled for 2027–2028. The final noteworthy order comes from MISC, which contracted 2×100,000 cubic meter LPG ethane carriers with Hyundai approximately at $160 million each, for delivery 2031”.
Meanwhile, in the S&P market, shipbroker Xclusiv added that “on the Capesize sector, the “Mount Song”- 180K/2010 Koyo was sold for USD 27.5 mills, while the “Mount Austin” – 179K/2010 Mitsui was sold for USD 27.5 mills to Chinese buyers. On the Ultramax sector, the “Kmarin Oslo” – 63K/2015 Jiangsu New Hantong was sold for USD 22 mills. The Ice Class 1C conventional M/E Supramax “Federal Lyra” – 56K/2014 Mitsui found new owners for USD 18.5 mills. Finally, the Handysize “Seastar Merlin”- 40K/2025 Naikai Zosen was sold for USD 34 mills to Korean buyers basis delivery ex-yard within May 2025, while the OHBS “Jaunty Jenny” – 34K/2012 Shin Kurushima changed hands for USD 13 mills. On the VlCC sector, Chinese buyers acquired the “Yinghao Spirit” – 296K/2009 Bohai yard, for USD 52 mills. The Aframax “Red Sun” – 115K/2008 Sasebo and the “Capricorn Sun” – 116K/2007 Sasebo were sold for USD 61 mills enbloc to clients of WYW Marine. Moreover, on the same sector, the “Quetta”- 107K/2003 Imabari and the “Lahore” – 107K/2003 Imabari were sold for USD 18 mills each. Last but not least, on the MR2 sector, the “Marlin Amber”- 50K/2015 CSSC changed hands for USD 30 mills”, the shipbroker said.
Banchero Costa added that “in the dry sector, MOUNT SONG 180,240 dwt 2010 Koyo (SS due Mar 2025) was sold to undisclosed interests at $27.5 mln BULK NORTHVILLE 169,000 dwt 2010 Daehan built was reported sold to undisclosed interests at $21 mln. For comparison, the sistership NORDBOEN SUN was sold in November 2024 at $23.5 mln DREAM STAR 86,260 dwt 2014 Tadotsu built (SS due Apr 2029, DD due Jun 2027) was reported sold to undisclosed interests at $21 mln Chinese interests were behind the purchase of YM ENDEAVOUR 82,000 dwt 2011 Tsuneishi built (SS due Dec 2025, DD due Apr 2025) sold at $14 mln For comparison, the similar vessel BULK PORTUGAL 82,200 dwt 2012 Tsuneishi built was sold during October 2024 at $22.5 mln In the Panamx segment, SALDANHA 75,700 dwt 2004 Sanoyas built (SS due Apr 2027, DD due Apr 2025) was reported sold to undisclosed interest at $8 mln and XIN DONG GUAN 9 70,785 dwt 2011 Zhejiang Zhenghe built was sold to undisclosed interest at $9 mln Chinese interests were behind the purchase of NAVIOS ASTERIKIS 76,800 dwt 2009 Sasebo built (SS, DD) The Ultramax WESTERN FUJI 63,600 2020 Nantong COSCO built (SS and DD due Jun 2025) was reported sold to undisclosed interests at $28 mln For comparison, GREENWICH PIONEER 63,670 dwt 2020 Nantong Xiangyu built was sold at $32 mln during November 2024.
Indonesian interests were behind the purchase of FEDERAL LYRA 55,725 dwt 2014 Mitsui built (SS and DD due Nov 2026) reported sold at $18 mln ANTARTIC OCEAN 33,500 dwt 2010 Samjin built was reported sold to undisclosed buyers at $9 mln Nordic Americans Tankers was behind the purchase of DIAMONDWAY and sistership GOLDWAY 154,800 dwt 2016 Sungdong built at $68 mln each. It was YWM Marine that purchased en bloc CAPRICORN SUN 115,000 dwt 2007 Sasebo built (SS and DD due Aug 2025) and RED SUN 115,000 dwt 2008 Sasebo built (SS due Dec 2028, DD due Nov 2026) at $30 mln each”.
Nikos Roussanoglou, Hellenic Shipping News Worldwide