It seems that ship owners are still finding their footing after the lull of the summer period, with very few of them dipping their toes in the newbuilding market. In its latest weekly report, Allied Shipbroking said that “a fairly quiet week was to be noted, with continued disruptions brought about by holidays in the West and a limited push being noted right now from the side of shipbuilders. During these past couple of weeks activity levels have been overall limited but to a fairly satisfactory level when compared to volumes noted during similar periods in the year last year and in 2016.
As things stand now it looks as though activity levels should show a revival in the final quarter of the year, given the level of rumored orders in the works but not finalized yet. Positive sentiment in the freight market and expected increases rates next year are also important factors that lead to the assumption that new contracting activity should see a further boost over the coming months. Meanwhile, newbuilding prices remained relatively steady for yet another week, despite the lack of activity, with investors waiting to see a clear price direction take shape over the following weeks, as we slowly enter the Autumn season”.
Compounding the sluggish newbuilding market, Clarkson Platou Hellas commented in its latest weekly report that there was “just one newbuilding order to report this week, with Wan Hai Lines contracting eight firm plus up to four option 2,800 TEU container feeders at JMU. The vessels are due for delivery from the yard’s Yokohama facility from mid-2020. The design also incorporates 400 reefer plugs”.
Meanwhile, in the S&P market this past week, Allied Shipbroking noted that it was “a fair week in terms of sold vessels’ volume, considering that this past week was the last week of the summer season, a period that market participants interest is usually subdued. In the bulk sector, there were 7 vessels that were sold, with the most notable transaction being the sale of 2 Capes and 1 Supramax to Star Bulk (Greek interests), together with a purchase option for another 4 Capesize vessels. In the tanker sector, there were limited reported activity, mainly in the smaller sizes, with 4 vessels being sold in total. Moreover, few sales of containership vessels took place last week as well, bought by Turkish and German interests. Secondhand prices have remained relatively steady for another week, with market players expecting fresh interest to come in the surface in the next weeks”.
In its weekly note, VesselsValue sad that in the tanker segment, “values have remained stable across all tonnages. VLCC Gloric (298,500 DWT, Jun 2006, Universal) sold for USD 33.3 mil to Aeolos Management, VV Value USD 30.3 mil – Spares on board, well maintained. LR1 Cape Texel (73,700 DWT, Jan 2009, New Times) sold for USD 12.5 mil to Norwegian buyers, VV Value USD 14.36 mil – SS Due. MR High Beam (46,600 DWT, Feb 2009, Naikai) sold for USD 14.8 mil to undisclosed interest, VV Value USD 14.8 mil. MR MR Nautilus (43,500 DWT, May 1998, Uljanik Brodogradiliste) sold for USD 4.8 mil to undisclosed interest, VV Value USD 4.62 million”, said the ships’ valuations expert.
Similarly, in the bulker market have remained stable. “ER Schiffahrt has sold six Capesize vessels (179,000 DWT, 2010), ER Bourgogne (Hyundai Samho HI), Brandenburg (HHI), America (Daewoo Mangalia), Bayonne (HHI), Borneo (HHI), Buenos Aires (HHI) and one Supramax ER Brighton (55,600 DWT, Jul 2010, Hyundai Vinashin) to Star Bulk Carriers in a cash plus shares deal. Handy IVS Shikra (29,700 DWT, Aug 2008, Shikoku Dockyard) was sold for USD 7.8 mil, VV value USD 10.11 mil. SS Due Handy Vinalines Fortuna (26,400 DWT, Nov 1991, Hakodate Dock) was sold for USD 2.3 mil, VV value USD 2.66 million”, said VV.
Nikos Roussanoglou, Hellenic Shipping News Worldwide
