Dry Bulk Newbuildings In Focus

Dry-Bulk-Newbuildings-In-Focus-3025.jpg      Dry Bulk Newbuildings In Focus

Ship owners are looking for investment opportunities in the dry bulk market, as they are waiting for the market to make a full recovery in the coming months. Over the course of the past week, according to the latest weekly report from shipbroker Allied Shipbroking, “things sparked back to life on the newbuilding front, at least with regards to Dry Bulkers. We started to see a fair flow of new deals coming to light with a central focus being placed on the more specialized Post-Panamax size segment by Japanese owners. It looks as though the larger size segments will continue to be the main focus amongst ship owners for both the Dry Bulk and Tanker segments, given the better prospects that are currently being painted in the market. Despite this the Tanker sector only witnessed one new deal and that was for a series of MR tankers by a Greek owner, being still at the LOI stage and backed by a favorable TC. Nevertheless, it looks as though things are slowly progressing for the better across most sectors in terms of fresh new ordering interest and as it turns out the summer months may well be considerably better in overall reported activity compared to what was being seen at the start of the year and compared to what we were witnessing during the same time period last year”.

Meanwhile, in a separate newbuilding report, Clarkson Platou Hellas said that “in dry, CSSC Shipping have contracted four firm plus two option 120,000dwt mini-capes at compatriot shipyard Huangpu Wenchong, with TC to Cargill when delivered in 2020. Dae Sun have taken their first dry bulk orders in a number of years with two 19,500dwt self-unloaders for Korea Shipping Corp, with both vessels due to be delivered in the early part of 2020. It’s also understood that Wisdom Marine added a third 82,400dwt Kamsarmax at JMU with the latest addition due for delivery at the end of 2020. In the smaller sizes, Ningbo Xinle announced an order from Nova Marine for a total of 18 general cargo vessels. Six of the vessels will be 8,000dwt and the remaining 12 to be 6,000dwt, with delivery due from the later part of 2019 onwards. In the container market SITC contracted two circa 2,400 TEU feeders at YZJ with delivery due in the second half of 2020. In Korea, HMD took a further four orders for 1,800 TEU feeders from Nissen Kaiun with delivery understood to be in 2019”, the shipbroker noted.

In the S&P market, Allied added that “on the dry bulk side, activity scaled back this past week, with a little more than a hand full of units reportedly changing hands over the past couple of days. Most were relatively older vessels, while the focus seems to have been on the smaller size segments. Given the overall fundamentals, this should be just a temporary move, with things likely to look considerably better as the month progresses and things start to gain traction on the freight market front as well On the tanker side, we witnessed a jump in activity this past week, though it most be stated that a mere three enbloc deals helped considerably in this regard. It is also fair to point out that some of the more alternative financing structures seem to be having much more go in this sector, with most seeking an opportunity to take advantage of the more competitive price levels still on offer”.

In a separate weekly note on ship sales, VesselsValue added that “bulker values have remained stable. Trade Resource (82,000 DWT, 2016, Jiangsu New Yangzijiang) sold in a bank sale for USD 24.50 mil to Marmaras Navigation, VV value USD 25 mil. Darwin (73,900 DWT, 2002, Namura) sold for USD 9.50 mil, VV value USD 9.9 million”. Similarly in the tanker market, “values have remained stable. Ocean Coral (45,900 DWT, 2000, Shin Kurushima Ujina) sold for USD 6 mil, VV value USD USD 5.6 million. BM Bonanza (105,600, 2007, Sumitomo) sold for USD 17.0 mil, VV value USD 16.44 million”, VV concluded.

Nikos Roussanoglou, Hellenic Shipping News Worldwide

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