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2015-07-24 14:12:47

Dry bulk shipping company Star Bulk Carriers Corp. has received two 209,000dwt Newcastlemax bulkers constructed by Nantong COSCO KHI‐Ship Engineering Co. (NACKS).

The two vessels, M/V Goliath (ex HN NE 167) and M/V Maharaj (ex HN NE 184),  joined Star Bulk's fleet on July 15, 2015.

In addition, on July 22, 2015 Star Bulk took delivery of M/V Star Aquarius, a 61,000 dwt Ultramax bulk carrier built by Japan Marine United (JMU).

Following these deliveries, Star Bulk owns seventy‐two dry bulk vessels on the water, consisting of three Newcastlemaxes, eighteen Capesizes, four Post‐Panamaxes, twenty Kamsarmaxes, seven Panamaxes, nine Ultramaxes, ten Supramax vessels and one Handymax vessel, with a total carrying capacity of 7.5 million dwt.

In addition, Star Bulk has twenty‐two vessels currently under construction in Japan and China with expected deliveries in 2015 and 2016.

2015-07-23 14:24:12

Chinese shipyards' new orders are expected to plunge at least 58% year on year (YoY) from 60 million dwt in 2014 to 20-25 million dwt in 2015, according to China National Association of Shipbuilding Industry (CANSI).

The significant decline in new orders would be due to the persistent overcapacity and conflicts between supply and demand in the international shipping market, CANSI said in a report.

CANSI predicted that the orderbook at Chinese yards will also slide to 130 million dwt at the end of December 2015.

Also, for the first six months in 2015, the top 10 yards in China grabbed 75.4% of all new orders placed in China, up nearly 20 percentage points from the full year of 2014. The new orders slumped 72.6% YoY to 11.19 million dwt during the same period.

The new orders for sea-going vessels totalled 4.13 million compensated gross tonnage (cgt) during the same period, down 66.5% YoY from 2014.

The orderbook of the Chinese shipbuilders fell 9.2% YoY to 138.07 million dwt at the end of June. The orderbook of sea-going vessels totalled 43.30 million cgt at the end of the June, of which 95% were exports.

The plunge in new orders came after Chinese shipbuilders ended 2014 with a 14.2% YoY fall in awarded orders, as buyers cut back on spending on new ships since late 2014.

Also, the completed tonnage at the Chinese yards grew 6.3% YoY to 18.53 million dwt over the same period. Among the total completed tonnage, sea-going vessels amounted to 6.37 million cgt.


2014-07-15 14:31:12

New orders for merchant ships placed worldwide fell 17.2 percent in the first half of 2014 to 944 ships totalling 20.48 million compensated gross tons (CGT) compared to 1,236 ships totalling 24.73 million CGT in the same period a year earlier.
New orders on the world market have been declining for six consecutive months since December 2013 when they reached 373 ships amounting to 7.94 million CGT, said market researcher Clarkson Research Services. CGT, an indicator of the amount of work needed to build a given ship, is used as a tool to compare inter-country shipbuilding output. As of end June, the total global order book was 5,274 ships totalling 112.27 million CGT, the lowest so far this year. South Korean shipbuilders were overtaken by Chinese yards in the number of new orders won in the first half of 2014 and China took over as the world’s largest shipbuilding country. South Korean yards won new orders for 164 ships totalling 5.55 million CGT in January-June 2014, down 29.5 percent from 230 ships totalling 7.87 million CGT in the same year ago period. During the same period, the share of global ship orders held by Korean yards fell to 27.1 percent from 31.8 percent. But during this period, Chinese yards won orders for 481 ships amounting to 9.09 million CGT, increasing their share to 44.4 percent from 39.9 percent. In terms of the value of new orders, Chinese yards won US$14.5 billion of new orders in the first half of 2014, above the US$13.2 billion won by South Korean yards. In the month June 2014 alone, South Korean shipbuilders dropped to third place after falling behind Japan, accounting for 16.6 percent of new global orders compared to Japan’s 25.9 percent. Chinese shipbuilders won 47.7 percent to take the top position in June.

2014-07-04 11:10:14

Despite the overcapacity of ships on the market, which has been a hot topic recently, the newbuilding orders for ships don’t seem to be toning down.

When speaking about bulk carriers, Pan Ocean has placed an order for two firm 207,000 DWT Newcastlemaxes at New Times, with both vessels due to deliver within the second half of 2016, according to Hellas S&P Weekly Bulletin, published on 30 June 2014.

Also in China, Conti Reederei have extended their order for 64,000 DWT Ultramax to a total of 20 vessels by declaring a further eight options. The first in the series will begin to deliver in the early part of next year, with the latest additions for delivery from 2017 onwards.

In the same sector JJ Ugland have announced an order at Imabari for two firm 63,000 DWT Ultramax due to deliver in 2017.

Blumenthal are also understood to have ordered two firm 34,000 DWT Handysize at Hakodate Dock, similarly due for delivery in 2017.

According to the Bulletin, there was just one order to report in tankers; CSBC (Keelung) have contracted a pair of 40,000 DWT Handy Product Carriers with Chinese Petroleum Corp (CPC) due to deliver within the final quarter of 2016.

A spread of orders was reported across the sizes in the gas market. Starting with the largest, GasLog announced an order for two firm plus up to four option 174,000 CBM LNGCs at HHI. The first vessels are planned for delivery in the second half of 2017 with options from end 2017 and into 2018 if declared.

In the midsizes, West Africa LPG have declared an option for one additional 38,000 CBM LPG carrier at Hyundai Mipo, taking the series to two vessels. The first is due for delivery within the end of 2016 and second vessel in
early 2017.

Epic Gas have ordered a third 7,500 CBM LPG carrier at Sasaki in Japan, with delivery in the final quarter of 2016.
Lastly, K-Line have announced two further 7,500 CEU car carriers at Shin Kurushima for delivery in 2017, taking the series to four vessels, the Bulletin concludes.

2014-06-30 15:27:15

The European and Asia/Pacific owned fleets are the largest regional fleets globally and account for 44% and 41% of the fleet in terms of GT respectively. While their share of global ordering has fluctuated over time, eight owner nations within these regions have accounted for around two thirds of tonnage contracted between 2005 and the ytd (857.8m GT).

Swinging Share?
As the Graph of the Month shows, ordering volumes have varied over time. Firm contracting levels 2005-08 saw European owners place almost half of all orders in terms of GT (234.4m GT) with Greek and German owners accounting for 32% of the record 177.7m GT ordered in 2007. The onset of the global recession in 2009 saw the proportion of GT ordered by Asia/Pacific owners outpace that of their European counterparts, averaging 53% in the period 2009-11 with a total 99.5m GT contracted over the period. Since the end of 2011, the share of GT ordered by European and Asia/Pacific owners has been more aligned at 44% and 37% respectively.

Starting Off West
Following the downturn in ordering, European owners have seen their share of the global fleet decline from a recent peak of 47% in 2007 to 44% at the start of 2014. Greek owners accounted for 15% of tonnage (124.9m GT) ordered by European owners between 2005 and 2013 and their fleet is now the largest globally. German owners placed the fourth largest volume of orders globally 2005-13 (70.8m GT) with boxships representing around 56% of GT. However, average German ordering volumes fell from 14.3m GT p.a. 2005-08 to 2.7m GT p.a. 2009-13, mainly due to the collapse of the KG financing system. While Norwegian owners ordered less than their German counterparts between 2005 and 2013 (36.6m GT), activity was relatively more consistent over the period with bulkers, tankers and offshore vessels representing around 71% of GT ordered.

Eastern Wind?
There has been strong growth in the Asia/Pacific owned fleet over the last decade with its market share rising from 36% at the start of 2005 to 41% at the start of this year. Chinese owners accounted for 31% of the 340.6m GT ordered over this period, with bulkers representing around 62% of the tonnage. While Japanese owners ordered the most tonnage of any owner nation 2005-8 (75.0m GT), 70% more than Chinese owners, average Japanese ordering volumes have fallen 64% since and stood at 6.7m GT p.a. 2009-13. Similarly, South Korean shipowners, who contracted the sixth largest volume of GT globally 2005-13 (46.1m GT), saw the volume of tonnage ordered decline by 42% after 2005-8 with an average of 3.8m GT ordered p.a. 2009-13. Meanwhile, the volume of GT contracted by Singaporean owners has been fairly stable 2005-13 with 30.5m GT ordered.
So, the share of global tonnage contracted by owners in Asia/Pacific and Europe has converged again in recent years. With the European owned orderbook currently 16% larger than the Asia/Pacific region’s (74.7m GT), owners in Europe may maintain their leading share of global GT for a little longer. Recent trends in contracting may be helping to slow the closure of the gap between European and Asia/Pacific fleet ownership.

2014-04-14 11:25:22

China Shipping Industry (Jiangsu) has bagged new orders from sister company Dong Fang International Investment to build four 64,000 dry bulk carriers.

Work on the new bulkers will commence in April this year and delivery dates are slated from May 2015 onwards, China Shipping Industry (Jiangsu) announced on its website.

The Chinese yard said the newbuilding move will serve to enhance the efficiency of its fleet and renew its assets.

2014-03-21 10:56:43

Interest in bulker newbuildings rose exponentially last year and has been biased towards the smaller sizes, with around half of the 968 new orders for supramaxes and ultramaxes, Banchero Costa head of research Ralph Leszczynski told the Marine Money Hong Kong Ship Finance forum this week.

While this may seem worrying, it is a problem that will only emerge in 2016 and 2017 as the deliveries start to emerge. The consensus among dry bulk players at the conference was that the market fundamentals are better now with rates of $25,000 to $26,0000 being able to be achieved on longer term charters for capesizes. "This is a good number which we haven't seen for a long time," noted Noble Group chartering head Ravindranath Raghunath.

However, Raghunath pointed out that the real troubling issue is what happens when the deliveries start to kick in in 2016 and 2017. "For the next two years the actual deliveries are not very high but it could increase a lot in 2016 and 2017," he said.

Giving the Chinese perspective, Bimco's Shanghai Centre general manager Wei Zhuang pointed to the fact that China's seaborne import volumes have doubled to 2bn tonnes last year in just five years since 2008. "We are approaching a balance between supply and demand and a good market for dry bulk with recovery in sight," Wei said. He added that China will continue to be the key to the dry bulk market.

2014-01-27 10:05:59

China's troubled shipbuilding sector has reported more positive figures in 2013, perhaps an indication of a brighter outlook following the recent restructuring, reduction of excess capacity and infrastructure upgrades, a report from the government showed.

Last year, the shipbuilding industry received new orders with tonnage amounting to 70m dwt, a jump of 242% year-on-year, according to figures from China's ministry of information and technology.

The top 20 Chinese yards won 80% of these new orders, up 5.5% over the previous year, the ministry revealed. It added that the shipbuilding industry has managed to attract orders for more sophisticated ships, including six LNG carriers and four VLGCs.

Shipowners have been returning to the newbuilding market, especially at Chinese yards, as they believed that new vessel prices have touched bottom, despite the lingering overcapacity that still exists in the shipping market.

Zhang Guangqin, president of China Association of National Shipbuilding Industry (Cansi), said earlier that China's surplus yard capacity is likely to last for another five years.

Zhang also urged Chinese shipbuilders to stop dangling low newbuilding prices and compromise on quality in order to win shipbuilding contracts.

2013-12-25 09:52:48

Sinopacific Shipbuilding Group (SINOPACIFIC), concluded the agreement for the construction of 6+2 ‘CROWN63’ bulkers on December 6, at the company’s head office in Shanghai. This is the largest single order SINOPACIFIC has ever secured in 2013.

This is the first new building order since 2008 inked by the Greek ship-owner TIMES Navigation, which has been a prudent player in the shipping market. The company now concluded such a bulk order, indicating the brand prestige of SINOPACIFIC and excellent reputation of ‘CROWN63’ bulkers had won extensive recognition from the global shipping industry.

Including this order, SINOPACIFIC has secured the orders for over 60 ‘CROWN63’ bulkers this year. According to statistics by October 2013, ‘CROWN63’ bulkers on order together with the fleet under operation, the total number ranks No.1 in the world’s Ultramax bulker market.

The R&D work of ‘CROWN63’ started in late 2009 and this cutting-edge ship type marked a significant progress for Ultramax bulker. Till now, CROWN63 still maintains its leadership with outstanding particulars, specifically the daily fuel consumption at a high level as 25.8 tons, which is actually the biggest temptation to owners and has explained why ‘CROWN63’ won so huge orders for SINOPACIFIC.

The lead ship of ‘CROWN63’ bulker was commenced in March 2011 and delivered in February 2012. It was successfully qualified with EEDI (Energy Efficiency Design Index) by Bureau Veritas (BV), which is also the first EEDI certification BV issued in the world. Up to date, 30 vessels of CROWN63 bulker that have been delivered are in stable and reliable operation and win high customer satisfaction.

The vessels under above order will be built by Dayang Shipbuilding Ltd., a shipbuilding base of SINOPACIFIC and deliveries will commence since April 2016.

2013-12-09 14:07:42

China is said to come in the world’s second position, already having beat Singapore as it is fighting well in global offshore market.

According to a Chinese stock firm (aastocks.com), Ma Yande, head of Marine Research Institute of Dalian Shipbuilding Industry (DSIC), said on December 5 that global new orders for offshore facility reached $33.1bn in this year to August, of which Korea, China and Singapore account for 47%, 25% and 16% of market share, respectively.

Mr. Ma said that Korea still dominates an advantageous position in offshore facility sector however China’s market share keeps growing, surpassing Singapore already.

Over these three countries, Mr. Ma said that Korea repeats overall development mainly in high-value added sector and Singapore has entered a phase of decreasing new orders, not being able to secure jack-up drilling platform sector while China is fighting well in the jack-up area, starting to show a trend of skyrocketing orders.

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