Shipowners have been actively pushing ahead with more newbuilding orders, as reported by various shipbrokers’ reports over the course of the past week. In its latest note, Allied Shipbroking said that “reported activity seems to be gaining pace recently with quite a few interesting deals coming to light this past week. In the dry side, several orders were placed by Far Eastern interests, including the order of 9 scrubber ready Capesize vessels. In addition, interest for Panamax carriers seems to be on the rebound, with fresh interest coming to light in the segment during the past week. Activity is expected to speed up further within the next months, as current freight rates and the general positive market outlook have driven most ship-owners to increase their appetite for speculation. Prices for larger sizes, especially Capes have shown some slight upside in the last few weeks, due to the improved demand now noted. On the wet side, activity was focused last week in the Aframax and Suezmax sectors, as European owners added 10 new vessels in the current orderbook. The current market fundamentals are not in a state to trigger shipowners to add new vessels to their fleets, but with demand being expected to grow in the next few months, we may well see a rebounded in fresh interest emerge.
In a separate shipbuilding report, Clarkson Platou Hellas noted that it was “a busy week of ordering in the newbuilding market, with the container market leading the way, following the long awaited contract signings for 20 mega containership by HMM with the Big Three Korean Yards taking place today. This process has taken quite some time since the signing of the letters of intent in mid-June, however firm contacts have now been signed for seven 23,000 TEU at DSME, five 23,000 TEU at Samsung and eight 15,300 TEU units at Hyundai Ulsan. These Vessels will all be fitted with Open Loop Scrubber systems and delivery from mid-2020 until the end of 2021. It is understood that these units will be financed by the newly established Korean Ocean Business Corporation, which is entrusted by the Korean Government to support ordering by Korean Owners at Korean Yards. In tankers, Knutsen NYK Offshore Tankers (KNOT), for onward long term charter to Equinor for employment on the Roncador field in Brazil, have ordered a brace of 153,000dwt Suexmax tankers at Hyundai Heavy Industries for delivery in June and August 2020. The newly formed Faerder Tankers in Norway, have placed an order for two firm plus two optional, scrubber fitted 158,000 dwt Suezmax tankers at Daehan Shipyard in Korea. This will be the Yards first Suezmax orders and delivery is understood to be in the second half of 2020. The stainless steel tanker market has seen one option declared by Marnavi of Italy, at Wuchang Shipbuilding in China, by extending their series to two firm Vessel of 14,620 dwt, with one further option still outstanding. This optional ship will deliver in the middle of 2020. Whilst this contract might have been signed a couple of weeks ago, it has now come to light that Shandong Shipping have ordered five option five, 180,000 dwt Capesize Bulkers at SWS in China. These ships are all reported to be fixed on long term charter contracts to RWE of Germany and will deliver from the second quarter of 2020 into 2021. The reactivated Yard Yangzhou Dayang, formally Sinopacific Dayang, have reportedly signed contracts for two domestic costal trading, shallow drafted 64,000 dwt shallow drafted postpanamaxes. One plus one of these have been ordered by Rongtua Shipping Group and one firm only from Taizhou Yongan Shipping. All of these units will be delivered within 2020”, Clarkson Platou Hellas said.
In the meantime, in the S&P market this week, “on the dry side, activity seemed to be winding down this past week, with the overall sector showing a gap on the back of shifting market fundamentals as of late. With buying appetite seeming ample for the time being, we can expect a further boost in activity for the remaining part of the year, though for the time being it seems as though most are taking a step back to re-evaluate their position before acting in haste. On the tanker side, a considerable slowdown in terms of activity was to be noted this past week, after an impressive rally seen just the week prior. Given the general perplexed sentiment towards the market for the year so far, the volatile nature in the S&P market can only be seen as a mere reflection of this. Notwithstanding this, as we enter the final quarter, most probably we may well continue seeing a number of interesting deals being concluded, with periodical ups and down noted in-between, Allied Shipbroking said.
In a separate weekly note, VesselsValue said that in the tanker segment, values have remained stable across all tonnages. “Zodiac Maritime purchased Suezmax newbuilds United Paragon, United Oceans, Pericles GC (157,100 DWT, Nov 2018 – Mar 2019, China Shipping Industry) in an en bloc transaction for USD 155.6 mil. Zodiac Maritime also purchased Aframax newbuilds United Mariner, United Nomad and Nikos Kazantzakis (115,000 DWT, Oct – Nov 2018, China Shipping Industry) for a total of USD 124.4 mil. MR Pearl Express (45,700 DWT, Jan 2004, Minami Nippon) was sold for USD 9.5 mil to undisclosed interest, VV USD 7.99 mil – Uncoiled”. In the dry bulk segment, VV said that “values have remained stable across all tonnages. Capesize New Dalian (180,400 DWT, Sep 2010, Dalian) was sold to Lavinia Corp for USD 27 mil, VV Value USD 27.82 mil. Panamax Sky Jade (81,500 DWT, Apr 2010, Universal) was sold for USD 19.2 mil, VV Value USD 18.57 mil. Handy Ocean Wealth (38,200 DWT, Jan 2012, Imabari) was sold to Orient Shipping and Trading for USD 15.5 mil, VV Value USD 16.21 million”, the ships’ valuations expert concluded.
Nikos Roussanoglou, Hellenic Shipping News Worldwide
