Shipowners continue to invest in the market for new and used ships and prefer larger vessels. Shipbroker Allied said in its latest weekly report that the market for new shipbuilding remained stable over the past week with a modest number of new shipbuilding projects. Order activity is skewed towards larger vessels, particularly in the dry bulk segment, which is at odds with recent trends in freight revenues. In addition, due to the recent increase in freight market volatility, cyclical fluctuations in new shipbuilding activity are also expected, especially towards the summer peak shipping season. New tanker shipbuilding activity is skewed towards MR vessels and it is expected that more capital will be invested in this sector as freight revenue levels gradually recover.
Shipowners continue to invest in big ships
Banchero Costa, another ship broker, said in a note that the tanker and container ship sectors had been relatively quiet over the past week. CPC Taiwan has ordered a 50,000-dwT MR tanker at CSC Taiwan for about NT $1.57 billion for delivery by the end of 2024. South Korean shipowner HMM has ordered three 1,800 TEU feeder ships at Hyundai Mipo shipyard for about $35.5 million each. Orders for the gas carrier segment continued to rise, with Japanese shipowners Iino Kaiun and Meiji Kaiun placing orders for four 174,000 cubic metre gas carriers at Daewoo Shipbuilding for delivery in 2026 and 2027 at undisclosed prices.
Shipowners continue to invest in big ships
In the dry bulk carrier section, Foremost built two 180,000 DWT Capesize type vessels in Mingcun, scheduled for delivery in late 2024 and mid-2025. The two vessels are expected to be leased by NYK on a long-term basis.
- Used boat market –
Allied said the trend of used dry bulk carriers is relatively flat, trading volume is limited. But given the overall positive mood, activity will continue. The tanker sector continued to maintain good momentum, the market saw a lot of trading. Given the continued improvement in market conditions and sentiment, the intention to buy used tankers is expected to rise accordingly in the near term.
Shipowners continue to invest in big ships
In the dry bulk carrier segment, Chinese owner Dayang Confidence (about 63,000 DWT, built in 2017) was sold for $30 million, according to Banchero Costa’s report; Soho Mandate (approximately 60,000 DWT, to be built in 2016) was sold for $31 million; The Shun Xin wheel (approximately 57,000 DWT, built in 2010, SS due 2025, BWTS installed) was sold for $16.8 million.
Shipowners continue to invest in big ships
In the tanker sector, second-hand ship trading is mainly concentrated in large vessels. The 160,000 DWT Suez Dolviken built in 2012 was sold to Advantage Tanker for $42.5 million. In addition, four Avra tankers changed hands within a week. The 115,000 DWT Elandra Angel built in 2009 was sold for $33 million; A 115,000 DWT Nicholas built in 2007 was sold to a Chinese buyer for $27.7 million; A 115,000 DWT Blue Pride built in 2004 sold for $23 million; Songa Coral, a 107,000 DWT vessel built in 2005, sold for $25m; A 50k DWT MR Largo Sun wheel (fitted with BWTS) built in 2016 was sold to a Greek buyer for $35 million; The 48,000 DWT Challenge Phoenix built in 2007 was sold to a Greek buyer for $18 million; The 50,000-DWT GRAND (fitted with BWTS) built in 2008 was sold to Vietnamese buyers for a bargain price of $19 million.