Ship owners have distanced themselves from contracting more newbuildings, despite the fact that sentiment for a number of segments, like tankers for example, is quite positive. In its latest weekly report, shipbroker Allied Shipbroking said that “the sluggish momentum noted in the newbuilding market as of late was intensified somehow during the past week, with the flow of fresh projects holding at very limited numbers. In the separate sectors and starting from that of the dry bulk, the periodical volatility in terms of volume came hardly as a surprise, given the mixed signals and deteriorated sentiment that has been surrounding this market for some time now”.
The shipbroker added that “moreover, thinking about the current freight rate levels, coupled with the effective newbuilding prices, it wouldn’t be unexpected to experience a more of “wait and see” attitude on a short-term basis. On the other hand, the recent lacking momentum in the tanker market, may as well have caught many by surprise to some extent, given the general robust trend in earnings noted for this sector for some time now. Most likely, we can expect further investment flow being pushed in this direction for the remaining part of the year. Finally, for the other main sectors, the gas carrier market prevailed at fairly fervent levels, with numerous new projects coming to light as of late, while there was a complete absence of activity being noted in the containership sector for yet another week”, Allied concluded.
In a separate note this week, shipbroker Banchero Costa added that “this week’s NB report is centred on LNG new orders in China where more yards are getting approvals and taking orders for Gas Carriers. Majority is for domestic business with some exception as reported here. Local Chinese owner Tianjin Southwest Maritime ordered 3 x 174.000 cbm units for as late delivery as 2028 at a high price of USD 250 mln; all the units are backed by long term contract with ENN Natural Gas of China. Another Chinese major owner Shandong Shipping entered the LNG sector by ordering 2 x 171.000 cbm for delivery in 2H 2027 at price of about USD 197 mln apiece. Also in this case there is a long TC backing the deal, to Sinopec. German owners made their debut in the LNG sector too by ordering 2 x 175.000 cbm at newcomer shipyard in building gas carriers, Yangzi Xinfu who secured earlier slots for end 2025 and beginning 2026; no price emerged”.
Meanwhile, in the S&P market this week, Allied said that “on the dry bulk side, the momentum in the SnP market was somehow derailed as of the past week, given the considerable slow down in terms of activity taking place. When thinking about the current fragile sentiment, nourished by the relatively prolonged pressure the freight market has been under, this kind of disruption in liquidity seems rather logical. All-in-all, as we see the overall market being in a state of rebalancing, something that could result in an increasing spread between buyers and sellers in the market, we can expect overall volumes to hold more volatile in the near term. On the tanker side, things took a small step back in terms of activity taking place as of the past week or so. However, taking into account the current robust trend from the side of earnings, coupled with the general bullish attitude, this sluggish shift could be hardly indicative of the prevailing sentiment noted in the market, as well as the levels of buying appetite still noted within this sector”.
Banchero Costa added that “Middle Eastern Buyers have been reported being the Buyers on 2 PostPanamax Bulkers; Great Glen and Great Animation 93,252 Blt Jiangsu 2010, 2011 at level of USD 37 mln. Kamsarmax Arouzu 82,113 dwt Blt 2012 Tsuneishi reported sold to Greek Buyers at USD 24.75 mln. Vessel is BWTS and Scrubber fitted. Chinese Buyers purchased enbloc 2 Kamsarmaxes CCS Orchid 81,966 dwt Blt 2017 Jiangsu and MSXT Hera 81,738 Blt 2018 Chengxi at level of USD 54 mln enbloc. 5 Panamax Bulkers reported sold last week: Tai Prosperity 77,747 dwt Blt 2005 CSBS Taiwan sold at USD 11.5 Mio, Pan Diva 76,830 dwt Blt 2004 Sasebo reported sold at USD 13.1 mln, Dooyang Jeju 76,634 dwt Blt 2002 Imabari reported sold at USD 9.9 mln, Blu Chip 76,596 dwt Blt 2007 Imabari reported sold at USD 15.2 mln and Cabrillo 75,200 dwt Blt 2010 Penglai reported sold at USD 15.8 mln. On Tankers, big tonnage leading the sales: Brillant Jewel 395,178 dwt Blt 2002 Daewoo reported sold at USD 40 mln, while Neptune M and Pacific M both 299,546 dwt Blt 2019 Hyundai reported sold enbloc at USD 180 mln. 4 Suezmaxes reported sold: Euroglory 166,447 dwt Blt 2005 Brodosplit reported sold at USD 26 mln, Da Li Hu 159,459 dwt Blt 2004 Bohai at USD 25 mln, Cap Philippe 158,920 dwt Blt 2006 Samsung reported sold at USD 35 mln and Valtamed 158,609 Blt 2004 Daewoo reported sold at USD 26 mln. Chinese Buyers went enbloc for 3 Guangzhou MRs Tankers, Gotland Sofia, Aliya and Marieann 53,187 dwt Blt 2007, 2008, 2008 for USD 55.5 mln.”, the shipbroker concluded.
Source: Hellenic Shipping News
