While newbuilding orders for dry bulk carriers were absent over the course of the past week, perhaps as a result of the Chinese New Lunar Year Holidays, things were surprisingly active in the tanker segment. In its latest weekly report, Allied Shipbroking said that “a fair amount of activity having been seen this past week, despite the noticeable absence of any new orders on the dry bulk front. Surprisingly enough we started to see a fair amount of new orders emerging for tanker vessels, with an order coming to light for 2 firm VLCC units, while we were also seeing 2 MR size methanol carriers being ordered in Japan. The market is still primarily being moved on project basis, with the vast majority of new orders coming through being supported to one extent or another on specific trade requirements, something that although is on the rise right now, is not something that can continue indefinitely and be the prime source of keeping shipbuilders active. There is a slight sense that a market shift may well be at hand as we move closer towards the 2nd quarter of the year, with the dry bulk segment likely to make a strong statement in terms of activity, as owners start to gain in confidence as to the real forward prospects this market has to offer, with the prime motivation likely to be the limited correction in freight rates noted during the start of the year (typically a seasonal low point in the market) and the quick improvement noted after the end of the Chinese New Year festivities”.
In a separate newbuilding report, Clarkson Platou Hellas said that “in Dry, COSCO HI Yangzhou announced receiving an order for two firm plus one optional 64,000 DWT Ultramax Bulk Carriers from Clients of Union Maritime. The two firm units are set for delivery in 2020. There is only one order to report in the Container market. Although contracted some time ago, it came to light this week that Maersk Line have extended their series of 15,226 TEU Container Carriers at Hyundai Heavy Industries by declaring an option for two additional vessels. Being the 10th and 11th units in the series, these vessels will be delivered within 2019 from Ulsan”.
Meanwhile, in the S&P market, Allied noted that “on the dry bulk side, it looks as though there was a fair amount of deals to be concluded before the onset of the Chinese New Year festivities. Given that we tend to see European owners being active of late, activity should remain at fairly good levels over the coming days, despite the fact that China and the majority of the Far East will be in a slumber state for the largest part of this week. There seemed to be a fair shift towards the Handysize segment, taking up the vast majority of vessels changing hands, most of which being relatively modern vessels. On the tanker side, we started to see a fair amount of action take place, with the most prominent deal being that of Ocean Yield, which snapped up 4 resale VLCCS on relatively favorable terms. There was also so interesting deals to be seen in the rest of the size segments, with the largest proportion of deals centering around fairly modern vessels”.
In a separate note this week, VesselsValue said that in the dry segment, bulker values have remained stable with a slight softening in Handy tonnage. Capesize Silver Road (185,500 DWT, Jul 2002, Kawasaki) sold to Times Navigation for USD 15.0 mil, VV value USD 13.72 mil. SS passed Nov 2017. Capesize South Trader (181,300 DWT, Jan 2014, Koyo Dock) sold for USD 36.5 mil, VV value USD 36.35 mil. An en bloc deal of two Panamax vessels, Emerald Baisha & Emerald Dongji (81,600/81,500 DWT, May 2015, Zhejiang Ouhua) sold en bloc for USD 45.0 mil, VV value USD 39.04 mil. Supramax Da Cheng (57,100 DWT, Sep 2010, Bohai Shipbuilding Heavy Industry Co) sold internally to Shanghai Changhang Shipping for USD 13.3 mil, VV value USD 13.91 mil. An en bloc deal of two Handy vessels, La Fresnais & Hull 153 (39,400/39,300 DWT, Jan/May 2018, Jiangmen Nanyang) sold en bloc to Ocean Yield ASA for USD 36.0 mil, VV value USD 37.95 mil. Inc 12-year BBB charter. An en bloc deal of two Open Hatch Handy vessels, Star Lily (33,200 DWT, Oct 2008, Shin Kochi) & Kumano Lily (32,300 DWT, Oct 2009, Kanda) sold en bloc to Taylor Maritime (HK) Ltd for USD 21.5 mil, VV value USD 21.98 million”, VV said.
In the tanker market, the ships’ valuations experts said that “values have remained stable across the sector with slight softening in VLCC values due to a softening in rates. VLCC Front Circassia (306,000 DWT, Mar 1999, Mitsubishi HI) sold to Foresight Drilling for USD 18.5 mil, VV value USD 18.8 mil. Aframax HS Carmen (112,900 DWT, Aug 2003, Hyundai Samho Heavy Ind) sold to Eurotankers for USD 11.3 mil, VV value USD 11.3 mil. SS due. MR1 Tanker Rosa Tomasos (37,200 DWT, Mar 2003, Hyundai Mipo) sold for USD 8.5 mil, VV value USD 9.05 million”, VV concluded.
Source: Hellenic Shipping News.