According to Nikos Roussanoglou of Hellenic Shipping News Worldwide, higher prices and lower profits have not deterred shipowners from investing in the newbuilding market. Consequently, the demand for new construction increases, despite the higher prices.
In its latest weekly report, shipping broker Allied Shipbroking said that “with dry bulk, tanker and gas markets holding firm, and container operators continuing to invest in alternative fuel vessels despite declining profits , last week saw a fair number of deals across all sectors come to an end. light.
The orders placed at Wuhu Shipyard will allow future owners Union Maritime and EGPN to take advantage of growth in the green fuels market, and the yard claims they are specifically designed to transport biofuels and chemicals, including methanol.
South Korean builders continue to take the majority of gas newbuild contracts, with three additional LNG carrier orders last week. Focusing on these high-value vessels has helped several South Korean shipbuilders make good progress towards annual sales targets. After dry bulk newbuild prices have fallen in recent months, prices are beginning to appreciate as shipyards fill their spaces and improving profits fuel interest in the sector.
Taiwanese owner Wisdom Marine certainly feels the timing is right, having ordered two Handysize vessels from Nihon Shipyard after ordering two from Namura Shipbuilding in March.”
In a separate note, shipping agent Banchero Costa added that “newbuild orders continued to rise as did prices, driven by a lack of shipyard space and rising costs. Emarat Shipping reportedly stepped in to take 4 x Ultramax at SUMEC New Dayang, which Marine Capital was unable to conclude (4+4 LOI signed in Dec 2022). Deliveries in May, June, August and September 2025. Densay signed an LOI for 2 + 2 SDARI 63,500 dwt with deliveries from mid-2025 onwards for about $32.5 million each at CSSC Jinling. A European buyer ordered 2 x TESS 64 Ultramax at Tsuneishi Zhoushan for $35.5 million.
NACKS has committed the last 2 Ultramax berths at over $34m, still at LOI stage for Q2 2025. Japanese shipowner Nissen Kaiun is linked to an order for 4 MR tankers worth a total of $185m at Hyundai Mipo Dockyard, bringing their orders to Hyundai yards to a total of 20 MR. Metrostar has reportedly placed an order for a 115,000 dwt LR2 tanker with Hyundai Vietnam for a price of around $67.5 million, with delivery scheduled for 2026. Metrostar has another 3 x LR2s currently under construction at the same yard. Containership owners continue to invest heavily in dual-fuel vessels: French carrier CMA CGM placed an order for 16 dual-fuel containerships in CSSC: 12 x 15,000 TEU (methanol) and 4 x 23,000 TEU (LNG). The deal is worth around $3.06 billion. The order for the dual-fuel methanol ships has been split between Jiangnan Shipyard and Dalian Shipbuilding Industry (DSIC), while Hudong-Zhonghua will build the 23,000 teu units.
Meanwhile, in the S&P the market was quiet last week. Allied commented that “activity is slowing down ahead of the Easter holidays. In the dry bulk sector, the volume of transactions was lower week by week, with Supramax being the main preference of buyers.
The average age of the boats sold was 13 years, one year older than the average of 12 months. The tanker sector also saw fewer vessels closing deals, possibly affected by negative sentiment following OPEC+’s announcement to cut production. Last week was heavily focused on the MR size segment, with two large block sales supporting SnP activity from product tankers. Contrary to the usual average age of boats changing hands, last week’s crop averaged 13 years.”
Banchero Costa added that “buying interest was focused on the Supramax and Ultramax sizes. The 2013-built 63,000 dwt Ultramax Sun Jinling (SS due to BWTS installation in 2027), controlled by Greece, sold for $23.25 million; in January Petit Charm 63,000 dwt built 2013 Chengix was made at $20.5 million pending survey basis. The 2011-built 57,000 dwt Dolphin 57 Haut Brion Taizhou Kouan (SS with 2026 BWTS fitted) was committed for $14.5m, last month the 2011-built 57,000 dwt GF Orient STX Dalian sold for 13, 5 million dollars.
The 37,000 dwt HMD Handysize Eldoris built in 2011, large and containerized, was purchased for $16.5 million; sister ship Shanghai Pearl was reported in February for $13.75 million. In the tanker market, the Greek-controlled 50,000 dwt MR Doric Pioneer built in 2013 HMD (SS due 2028 DD due 2026 BWTS equipped with eco ME) sold for $34 million. Nigerian buyers were reported to be behind the purchase of the Norient Saturn 40,000 dwt built 2007 Santierul (SS due to 2025 BWTS installed) at $19.8 million,” the shipping broker concluded.
Source: Nikos Roussanoglou of Hellenic Shipping News Worldwide
