Newbuilding and used bulkers are the main trend in the shipping market these days. In its latest weekly report, shipbroker Allied Shipbroking said that “the Newbuilding market has started to build up a positive momentum week by week, with a robust flow of deals coming to light again this past week. The dry bulk sector has a leading role in the reported activity noted of late, a mere result of the good fundamentals and the upward attitude that is being seen in the market. Moreover, given that we are just at the onset of the final quarter of the year, and having seen how bullish sentiment in terms of earnings affects new order placing (just a simple look of the orders placed in the 4th quarter of 2017), a considerable flow of fresh orders can be expected to be seen during the final months of 2018. On the tanker side though, thing remain rather blurry, with most placing their focus on current opportunities seen on the secondhand market, while seemingly putting on hold their long-terms plans for new projects until the market finally sets its foot on a more stable trajectory in terms of earnings”.
In a separate newbuilding report, Clarkson Platou Hellas noted that “in Dry, Santoku Shipping is reported to have returned to SWS for a further pair of wide-beam 186K Dwt Capesize Bulk carriers. These bring their total number on order with the yard to 4 vessels, following their order for 2 firm ships placed last year. This latest pair will deliver in 2020 and are being built as tier III vessels. Doun Kisen meanwhile are reported to have returned to Nantong Xiangyu for a further 2 x 63,500dwt Ultramax bulk carriers, delivering in 2020. This means the owner now has a total of 4 x ultramax and 2 x kamsarmax on order at the yard. In Tankers, Hanjin Heavy Industries are reported to have won an order from clients of Cukurova Holdings for 4 x Aframax Tankers which are due to be constructed from Hanjin’s Subic Bay facility in the Philippines. Again these vessels will be built to latest tier iii standards and will delivery from 2H 2020 onwards. Finally in the LNG sector, Samsung announced a contract for a single 174,000cbm LNG carrier from NYK Line with employment to Total. Delivery is due in the first quarter of 2021. There’s also been some activity in the smaller scale LNG space with JV Avenir LNG declaring options for the third and fourth in their series of 7,500CBM vessels at Keppel Nantong. Damen Yichang also took an order for a single 6,000cbm LNG bunkering vessel from Infortar AS (for Eesti Gaas) with delivery due in the second half of 2020. panamaxes”.
Meanwhile, in the S&P market, Allied Shipbroking said that “on the dry side, a considerable boost in volumes noted during the past few days. The main focus seems to have been on Panamax tonnage, closely followed by the Supramax segment. A key difference however seen is that while in the Panamax segment most deals involved vintage units, in Supramax sector most transactions involved more modern vessels. All-in-all, given that we are starting to see some positive omens emerge in the freight market, this could well drive buyers further over the coming months. On the tanker side, a relative gear up in activity was also noted this past week. This can be seen as mere reflection of a very active VLCC market, inline somehow with the considerable boost noted in the freight market during the same time frame. Given the opportunistic attitude that has been key in the market so far this year, we should continue to see interest hold firm for now, while this gear up in activity is still unlikely to drive any excesses in terms of pricing”.
Similarly, VesselsValue, the ships’ valuations expert, said that in the dry bulk market, “values have remained stable across all tonnages except for mid-age Panamaxes which have softened. Panamax Daebo Newcastle (81,400 DWT, Dec 2012, Hyundai Samho) was sold for USD 19.0 mil, VV value USD 20.51 mil. Panamax Double Prosperity (76,600 DWT, Jul 2005, Imabari) was sold to Shail Shipping for USD 10.6 mil, VV value USD 12.73 mil – Poor condition. Panamax Angelic Grace (74,800 DWT, Jan 2001, Hudong Zhonghua) was sold at auction for USD 5.5 mil, VV value USD 7.47 mil. Supramax Medi Firenze (58,700 DWT, Feb 2008, Tsuneishi Cebu) was sold to Salam Pacific for USD 13.3 mil, VV value USD 13.64 mil – DD Due”, concluded VV.
Source: Hellenic Shipping News.