Ship owners around the world have adopted a risk-aversion policy, which translates to refraining from adding more newbuildings on the global orderbook. In its latest weekly report, shipbroker Banchero Costa said that “there was not much fresh business to report this week for conventional type of ships. In the Japanese dry bulk market Tsuneishi shipyard ordered for their own account a relevant number of ships being Kamsarmax, Ultramax and Handysize. The only foreign order we recorded is for a Kamsarmax for UK based Helikon Shipping (no price nor delivery dates available). Also the tanker sector showed poor levels of activity, the only business done refers to few options declared by Oman Shipping at Daewoo for four VLCC dely from June 2021. In the smaller segment, Japanese owners Nissen Kaiun extended their commitment with Chinese shipbuilders by booking 3 x 19,900 dwt product tankers at Nantong Xiangyu for delivery in 2022, no price available. Niche segment of PCTC saw an order from Japanese Kawasaki Kises and NYK for dual fuel 7,000 ceu PCTC at Imabari and Shin Kurushima respectively (specialist builders in this sector). Estimated cost per ship is around $95 mln; both are fixed on long terms to local Japanese major charterers Toyota”, said the shipbroker.
Similarly, Allied Shipbroking reported that “the lack of activity for dry bulk vessels continued for yet another week, with no new deals coming to light, while appetite amongst buyers seems to have eased back significantly lately. This comes despite the positive momentum that is currently noted in the dry bulk freight market. It is likely that owners have shifted their focus over to the secondhand market for the time being, as they are keener on bargain investments that can take imminently take advantage of the current improved market, rather than being exposed to the higher and longer term risk typically associated with newbuilding projects. It is not expected that we will see any significant changes in the current trend soon, with any possible upturn in interest being postponed till after the summer period. At the same time, newbuilding activity in the tanker market showed some signs of revival, as last week 4 new orders were reported. The majority of them included product/chemical tankers, with this segment having shown the most promise of late amongst most interested buyers right now. Investors in tanker market continue to show a more bullish face and thus we may well continue see this sort of new ordering volume tricle through over the coming months”.
Meanwhile, in the S&P market, Allied said this week that “on the dry bulk side, the current positive momentum in the freight market increased interest for second-hand units, with activity remaining at healthy levels for yet another week. Interestingly, last week we saw deals include vessels from larger size segments of the dry bulk fleet, such as Capes and Panamax, with the focus extending to more vintage units as well. This pattern is expected to continue to be seen over the coming weeks, as optimism has returned to buyers following the recent recovery in freight rates. On the tanker side, we might not have seen the impressive levels that were being noted some weeks back, but a fair amount of deals did come to light. Focus was spread across the whole spectrum of the tanker sector, reflecting the positive market outlook being held now. It is anticipated that we will see further activity take place in the following weeks, as optimism for improved earnings to be seen in the final quarter of the year are now mounting”, the shipbroker said.
In a separate note, Banchero Costa added that “in the dry market, it was reported Japanese controlled Capesize “Euro Fortune” around 177k dwt 2005 built Mitsui was done at $14.7 mln. Furthermore always in the same segment “Mineral Noble“ around 170k dwt 2004 built Hyundai was sold at $13.5 mln with 3 years t/c back to present owners. Concerning Panamax, “Crystal Windabt” around 76k dwt 2009 built Shin Kasado was done at $13.3 mln, a month ago “Nord Galaxy” around 77k dwt 2006 built Imabari (BWTS fitted) was fixed at $10.6 mln. A tier II Supramax “Tomini Victory” around 57k dwt 2012 built Yangzhou was sold at $ 10.8 mln. At an auction in UK a modern Handysize “Alkyon” around 36k dwt 2015 built Jingling was sold at $12.5 mln (vessel has SS/DD due and no BWTS). Always in the Handy segment, “Daiwan Braveabt” around 34k dwt 2014 built Namura was sold at $15.5 mln to Greek buyers. In the tanker market, after inspection was invited during June, it seems that the “Phoenix Vanguard” around 306k dwt 2007 built DSME was sold at $38.5 mln”, the shipbroker concluded.
Nikos Roussanoglou, Hellenic Shipping News Worldwide