Newbuilding orders have continued to move higher, with more and more owners looking to add modern and more efficient tonnage to their fleet. In its latest weekly report, shipbroker Allied Shipbroking said that “newbuilding market activity was kept at firm levels compared to the impressive performance recorded during the past week, presenting a satisfactory number of orders as shown below. Buying interest continues to focus on the LNG and the containership sector, as demand from the side of owners remains on a vivid pace. What we also observe is that, shipowners have started to show positive sentiment for the tanker market as well and in particular for smaller product tanker segments. It is not unlikely that we will see more orders flow through for this sector (including the larger crude oil size segments as well) in the near term, given the positive expectations that are seemingly held in regards to their respective revenues during the coming year. At the same time, a positive factor that has been in play for some time now has been the focus in securing slots for construction of more modern and efficient vessels in an effort for many to implement a “green fleet” strategy. On the dry bulk side, the market continues to show fair volatility in terms of activity reported, a pattern that looks to likely hold over the coming weeks given the increased uncertainty that has amassed of late in terms of their earnings outlook moving forward”.

Source: Allied Shipbroking

In a similar note this week, shipbroker Banchero Costa added that “in the container market CA Shipping, Hong Kong (JV between Fortune Container Carriers and Asean Sea Lines) placed an order for 4 + 4 x 1,600 teu feeders at Wenchong at USD 30 mln each deliveries expected in 2025. Turkon Group ordered at local shipyard Sedef Gemi Industrisi 2 x 4,000 teu container units with deliveriesset for 1st half 2024. LPG YAMIC received an order for 2 x 36,000 cbm LPG/ethylene carriers by Ocean Yield of Norway; deliveries are set for end 2024 and beginning of 2025. Hyundai Mipo commited a slot to build 1 x 40,000 cbm LPG carrier with delivery during 1Q 2025, price region $63,5 mln”.

Meanwhile, in the S&P market this week, Allied commented that “on the dry bulk side, the market has kept at modest levels, with buying interest focusing on the smaller size segments of the sector. It is obvious that the buying mood is currently driven by those segments that present less uncertainty. The overall sentiment remains positive with the exception of the Capesize market which has not been able to ensure a steady course so far compared to the rest of the segments.

Source: banchero costa &c s.p.a

On the pricing front, things continue to hold at decade highs, though with signs of some slight weakness noted in the Panamax and Supramax segments. On the tanker side, the number of deals was significantly reduced compared to the week prior. Earnings also showed intense volatility here, pushing buying interest to appear more hesitant and without any specific direction. The focus stretched across all size segments, with prices showing further gains this week. However, given the high volatility noted, this trend could easily reverse just as easily”, Allied concluded.

Source: banchero costa &c s.p.a

Banchero Costa added that “still big number of transactions in the dry Bulk segment. Chinese Buyers purchased at auction the Post Panamax resale SDTR Julia 84,000 dwt for delivery ex yard Shanhaiguan Sept 22 at price of USD 35.18 Mln. Vessel is Tier III. Panamax Lowlands Maine 76,784 dwt blt 2005 Sasebo reported sold to Chinese at USD 16.5 Mln. Vsl ss 03/25 dd 01/23 BWTS fitted. Another Sasebo build Panamax Bulker, Christina IV 72,493 dwt Blt 2000 reported sold to UAE Buyers at USD 12.5 Mln. BWTS fitted. Jinhui Shipping HK reported to be the Buyers of the Supramax Western Santos 63,518 dwt Blt Jiangsu 2014 for USD 26.3 Mln, BWTS fitted. The handy Bulker Milau Bulker 38,173 dwt Blt 2012 Naikai reported sold to Greeks at USD 23 Mln. On Tankers, the Afra Tartan 113,782 Blt 2005 Samsung (Finnish class Super Ice Class 1A Scrubber fitted) reported sold to undisclosed for USD 25 Mln. MR2 Daisy M 49,999 dwt Blt Guangzhou 2008 reported sold to Greeks at USD 15.1 Mln. IMO III Freisa 37,320 dwt Blt 2003 STX reported sold to undisclosed at USD 8.2 Mln. On Containers Safen Feeders reported to be the Buyers of the 3,421 Teu Eastway Malmsey Blt 2011 Rongchen for USD 65 Mln”.

Marex Media