Newbuilding
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2018-02-07 13:48:01

Increasing confidence in the dry bulk market’s long term recovery has triggered an increasing number of newbuilding orders over the course of the past week. In its latest weekly report, shipbroker Allied Shipbroking said that it was “an interesting week for the Newbuilding market was due, mostly attributable to the Dry Bulk sector, which pulled in its weight this week dominating the reported activity tables this past week. Despite the fact that freight market is showing some slight softening, with the BDI having eased back from its early January levels, fresh interest seems ample at this point, a mere reflection of the strong forward outlook being shared right now by most in the market. Moreover, despite overall activity being still relatively slow for the time being, we have been seeing a considerable amount of options being declared. At the same time it looks as though traders are starting to get into the game, providing ample backing for further ordering to take place. On the tanker side, things are still lacking confidence with the bearish attitude in the freight market still leaving for minimal appetite to emerge in realized new orders”.

2018-01-31 15:27:16

Athens-based dry bulk shipping company M/Maritime Corp has revealed orders for three dry bulk vessels with Japanese shipbuilders.

The company said that it signed a shipbuilding contract for one 37,000 dwt bulk carrier on January 23. The vessel, which will be built by Saiki Heavy Industries, Onomichi dockyard, is scheduled to be delivered to its owners in the first quarter of 2020.

Additionally, on December 2017, clients of M/Maritime Corp signed shipbuilding contracts for two 60,200 dwt bulk carriers to be built at Mitsui Engineering & Shipbuilding.

Both vessels, under Hull No. 1961 and Hull No. 1962 are scheduled to be delivered to their owners between second half of 2019 and first half of 2020.

The full management of the three newbuilding vessels will be entrusted to M/Maritime Corp.

Furthermore, the company informed that a new 61,222 dwt Ultramax dry bulk carrier was handed over to its owner on January 25. Named OLYMPIA.GR, the vessel was constructed by Shin Kurushima Toyohashi Shipbuilding.

2018-01-25 13:34:14

Taiwanese shipping company Wisdom Marine has returned to the Japanese shipbuilder Imabari Shipbuilding for two more bulker newbuildings.

The company said that it has earmarked around USD 49 million for the two 37,800 dwt bulk carriers.

The two ships will be bought for up to USD 24.5 million apiece.

The financing will be carried out in installments until the delivery of the ships. However, the exact delivery dates have not been specified.

The order comes on the heels of a buying spree from the end of last year which saw Wisdom Marine order two 61,000 dwt bulkers from Tokyo-based builder Kawasaki Heavy Industries and buy a 63,700 dwt bulk carrier from Chijing Shipping.

Wisdom Marine kicked off the year by welcoming two newbuilds into the fleet, the 61,950 dwt Amis Miracle, built at Oshima shipyard, and the 37,600 dwt Bunun Kalon, built at Imabari.

The latest fleet additions bring the company’s fleet to 126 vessels.

Four more newbuildings are set to join Wisdom Marine’s fleet this year, according to the company’s website data.

Six additional bulkers, taking shape at Imabari, Namura and Tsuneishi, are set to follow suit in 2019 and 2020.

2018-01-23 15:50:26

Chinese tanker owner Shanghai Dingheng Shipping has inked a strategic cooperation agreement with local shipbuilders and steel and equipment manufacturers for its plan of constructing 100 ships in the next ten to twenty years.

The company’s parent Dinghen Group said that the strategic agreement was signed on January 20, 2018 in Shanghai and that the signatories included Ningbo Xinle Shipbuilding (Group) Co., Guangzhou Diesel Engine Factory, CSIC Wuhan Marine Machinery Plant, Shanghai Baosteel Special Steel Co, and CSIC Diesel Engine Co, among others.

Under the Hundred of Ships Construction Plan, the firm plans to build small and medium-sized chemical tankers.

The plan is line with the company’s ambitions of transforming itself from a local player to an international tanker owner and the One Belt, One Road Initiative.

As informed, Tunku Ismail, Prince Regent of Johor, Malaysia has expressed great interest in the program in line with Malaysia’s petrochemical strategy. In addition, the prince is said to have launched talks with Petronas, Qatar National Petroleum Corporation, Kuwait National Petroleum Company, Bahrain National Oil Company and Bahrain National Bank on providing cargo and financing for the project.

Consultations are being held with relevant authorities and definitive agreements are expected to be disclosed soon, the company said.

The shipping company’s ambitious fleet bolstering plans were hinted in October 2017, when Shanghai Dingheng Shipping inked a deal with Ningbo Xinle Shipbuilding Group on the construction of ten 9,000-tonne stainless steel chemical tankers.

Dingheng added that it had reached a preliminary agreement with the shipyard on the construction of ten additional 6,000-tonne stainless steel chemical tankers.

2018-01-18 13:50:12

Ten mega boxships are set to be handed over to their owners this month making January a record month for containership deliveries.

These will include seven sea giants of 19,000-21,000 TEU set to join the ranks of CMA CGM, Maersk Line, MOL and OOCL, data from Alphaliner shows.

OOCL Indonesia boasting 21,413 TEU will be the largest containership delivered in January based on its TEU capacity.

CMA CGM Antoine de Saint Exupery with 20,776 TEU and MOL Treasure with 20, 182 TEU are set to follow suit.

Maersk Line is scheduled to take delivery of two 20,000 TEU behemoths, Manchester Maersk and Marseille Maersk of 20,568 TEU each and Maersk Hanoi of 15,282 TEU.

COSCO Shipping already took delivery of the 14, 568 TEU COSCO Shipping Alps from Hudong-Zhonghua Shipbuilding.

The newbuilding was delivered 56 days in advance on January 3, 2018.

The company will bolster its fleet with COSCO Shipping Taurus and Aries, disposing of 20, 182 and 19,119 TEU respectively.

Japanese K Line will also have one containership join its fleet this month featuring 14,568 TEU.

January will set the stage for the rest of the year, with a record number of ULCVs ranging between 14,000 to 21,000 TEU planned for delivery in 2018, according to Alphaliner.

2018-01-11 14:52:32

Chinese shipbuilder Bohai Shipbuilding Heavy Industries has received an order for up to nine Newcastlemaxes, according to broker reports.

John Fredriksen Group has been tied to an order for up to four 208,000 dwt bulkers at the yard, comprising two firm and two optional ships, Compass Maritime said in a weekly report.

The ships are scheduled for delivery in the fourth quarter of 2019, Asiasis said referring to the order.

Berge Bulk has also been linked to an order for up to four Newcastlemaxes, also two firm plus two optional vessels.

The ships are said to be slated for delivery in the first half of 2020.

The company is yet to provide World Maritime News with a comment on the matter.

Finally, Singapore’s RGL Shipping has reportedly placed an order for one Newcastlemax, to be delivered to the company in the first half of 2020.

The bulkers will be built in accordance with the NOx IMO Tier II emission standards and are priced at around USD 45 million respectively, as disclosed by Compass Maritime.

RGL Shipping and Berge Bulk have already had ships built by Bohai.

Based on the data provided by VesselsValue, Bohai delivered one Capesize bulker to Berge Bulk in 2017, the Berge Grossglockner, and is going to deliver another Capesize to the company this year, the Berge Olympus.

RGL Shipping is also set to take delivery of a Capesize newbuilding from the yard this year, the 210,000 dwt PSU Third.

Both ships are expected to be delivered to their respective owners in January.


2018-01-10 11:38:40

Appetite for more newbuildings seems to be quite big during the first days of 2018. Allied Shipbroking said in its latest weekly report that “despite having only just returned from the Christmas holiday period, activity in the newbuilding market seemed to be holding firm, with several deals seemingly signed during the festive retreats. The main sector driving activity of recent is still the dry bulk market, with increased earnings driving buying interest and pushing for further units being ordered. The main activity seems to still be focused on the larger Capesize and Panamax segments, a trend that we have been noting since the summer of 2017. In terms of the rest of the orders it seems to be more a case of mix and match, with most of the m being more specialized units likely being placed to fulfill some sort of trading requirements by the buyers’ that placed them respectively. Overall, expectation is for a much more heated market in terms of activity here, with the total volume expected to likely surpass anything we have seen during the past 2-3 years”.

In a separate weekly note, Clarkson Platou Hellas said that “the Dry market has seen one order this week, with Huangpu Wenchong reported to have signed a contract for two firm 82,000 DWT Kamsarmax Bulk Carriers with domestic owner Seacon Ships. These two units will be delivered within 2019 from China. In Gas, Clients of GasLog have announced an order for one 180,000 CBM LNG Carrier with Samsung Heavy Industries. This single vessel is slated for delivery in 2019 from Samsung’s Geoje facility. There are more LNG Carrier orders to report, with Hyundai Heavy Industries (HHI) receiving an order for one firm plus one optional 174,000 CBM LNG Carriers from Clients of Cardiff Marine for delivery in 2020. Sovcomflot have also signed a contract with HHI for one firm plus one optional 174,000 CBM LNG Carriers, also for delivery within 2020”.

Meanwhile, in the S&P market, Allied added that “on the dry bulk side, things were relatively slow, especially when compared to the average levels we noted during the past year. This is not necessarily indicative of the buying sentiment being noted, but rather that most seemed to have retreated taking any action during the final weeks of the year, likely choosing to wait and see how the New Year freight market will go. On the tanker side, activity continued to remain slow and pretty much inline with what we have been seen during the past 12 months. Given the poor earnings and the push back by most sellers, things have become a bit more tricky here and we may well be seeing a widening gap between buyers’ and sellers’ ideas, something that would surely hamper things further”.

Ships'valuations expert VesselsValue said that in the tanker market there was a slight softening in Afra and LR1 values following a drop in earnings since the beginning of January. In the dry bulk market, VV commented that there was “firming in older Panamax and Handy tonnage. Panamax Alpha Harmony (74,500 DWT, Jul 2001, Daewoo) sold for USD 9.0 mil, VV value USD 8.53 mil. Supramax Marine Stars (53,600 DWT, Mar 2006, Dayang Shipbuilding Co) sold for USD 8.2 mil, VV value USD 9.04 mil. Open hatch Handy Bulker Blue Ocean (31,700 DWT, May 2005, Saiki) sold for USD 9.0 mil, VV value USD 7.16 million”, it concluded.


2018-01-03 11:39:51

After a subdued 2016 in terms of newbuilding orders, 2017 proved to be a totally different story, as owners took advantage of the aggressive pricing from shipyards. In its latest report, shipbroker Allied Shipbroking noted that “the newbuilding market remained overall subdued this year in terms of volume, although overall we did see considerably more activity than what we were noting back in 2016. The freight market rallies noted in the Dry Bulk Sector, helped feed a slightly more speculative attitude in the market, although this was relatively minimal when compared to previous years. In the Tanker market, despite the deteriorating conditions in terms of earnings, we witnessed a renewed interest in new orders, with most likely looking at the market with an opportunistic eye, taking advantage of the lower prices on offer by most shipbuilders. An important fact to point out is that both these sectors have seen their orderbooks decreased in all main size segments. This improved orderbook ratio can be of major importance moving forward, allowing many to take on the option for further ordering in the new year without considerable fear that it would put excessive supply weight on the markets”.

In a separate newbuilding report, Clarkson Platou Hellas said that it was “an interesting week in the newbuilding market, with contracting activity to report across a number of sectors. In tankers, GSI have received a series of orders from domestic owner COSCO Shipping Energy Transportation, with three firm 114,000 DWT Crude Aframax Tankers, two firm 109,900 DWT LR2 Product Tankers and two firm 64,900 DWT Tankers. The vessels will be delivered throughout 2019 and 2021 from GSI’s Nansha facility. In Dry, Shanghai Waigaoqiao Shipbuilding (SWS) have won an order for two firm 208,000 DWT Newcastlemaxes from Foremost Maritime for delivery in 2020. Foremost Maritime have already ordered four Capesize Bulk Carriers at SWS earlier this year. 2020 Bulkers have extended their series of 208,000 DWT Newcastlemaxes at New Times by declaring an option for two additional vessels. Set for delivery in 2019 and 2020, these will be the 3rd and 4th vessels in the series. COSCO Shipping Specialised Carriers have declared an option for one 62,000 DWT Open Hatch Bulk / Pulp Carrier at COSCO Dalian. The vessel will deliver in 3Q 2019 and is backed by a long-term COA to Suzano Pulp and Paper. The Gas market has seen two orders this week, starting with Phoenix Tanker (MOL) placing an order for one firm 82,000 CBM VLGC at Kawasaki Heavy Industries. This will be built from Kawasaki’s Sakaide facility and delivered within 2019. Furthermore, Exmar LPG have announced an order for two firm 79,500 CBM VLGCs which have been contracted at a yet to be named yard, for delivery in 2020. This order has been placed by Exmar having successfully secured a long term TC for the vessels from Statoil. In the Container market, Quanzhou Ansheng in China have ordered twelve firm 640 TEU Container Carriers at three domestic shipyards. The Buyer has awarded four units to Fujian Southeast Shipbuilding, four units to Fujian Mawei Shipbuilding and another four units to Nantong Xiangyu. All vessel will be delivered within 2019”, Clarkson Platou Hellas concluded.

Meanwhile, in the S&P market, Allied noted that “on the dry bulk side, the Christmas holidays seem to have taken its toll on activity, with the week closing off with a significant drop in reported transactions compared to previous weeks. Buying interest seems to have gradually waned over the past couple of weeks, as most investors take a pause to see the direction the market will take in the first few weeks of the New Year which will seem crucial in dictating the tempo the rest of the first half of the year will take. On the tanker side, activity seemed to be slightly firmer, however it is here too that we will likely see a further drop in activity over the coming days as the days close to the Christmas holidays and New Year tend to be slightly sluggish, especially during a period were the freight market is not showing any great signs of exuberance”, the shipbroker concluded.


2018-01-03 11:37:52

GasLog Ltd., an international owner, operator and manager of liquefied natural gas (“LNG”) carriers, announced that it has ordered a newbuild 180,000 cubic meter vessel with XDF propulsion from Samsung Heavy Industries (“Samsung”) that is scheduled to deliver in the third quarter of 2019. This vessel is currently unchartered but its early delivery means that it is expected to deliver into a strong LNG shipping market.

Paul Wogan, Chief Executive Officer of GasLog Ltd., commented, “I am very pleased to announce this expansion in our fleet. We have secured this vessel at a very attractive cost and she will be equipped with the latest propulsion and cargo containment technology which will result in highly competitive unit freight costs. The vessel is expected to deliver into a strong LNG shipping market which, according to our estimates, will be short of capacity by the winter of 2019/2020.”

GasLog is an international owner, operator and manager of LNG carriers. GasLog’s fully-owned fleet includes 15 LNG carriers (including 10 ships in operation and 5 LNG carriers on order) and GasLog. GasLog Partners LP, a master limited partnership formed by GasLog, owns a further twelve LNG carriers.


2017-12-25 14:17:13

Tor Olav Troim-led 2020 Bulkers has exercised an option for two more Newcastlemaxes at China’s New Times Shipbuilding.

The two bulkers are priced USD 44.7 million apiece and are scheduled for delivery in December 2019 and January 2020 respectively, according to the data from Asiasis.

The order is an option available under a contract 2020 Bulkers signed in October this year, which included two firm orders for 208,000 dwt bulkers at the yard for USD 44.2 million each.

Under the deal, the Norwegian shipowner 2020 Bulkers has four options at the Chinese shipyard, which are set to expire at the end of December if not taken up.

Norwegian 2020 Bulkers recently raised a small amount of fresh capital from investors which are likely to be used to finance the construction of the ships.


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