In Hellenic Shipping News 07/09/2016
Shipbuilders are hoping that the autumn months will prove to be a newfound “spring” for them, as the summer lull in newbuilding orders could give way for more activity until the end of the year. But, this could very well be wishful thinking, as the course of the freight markets offers no tangible hopes for a recovery in ordering activity. In its latest weekly report, shipbroker Allied Shipbroking noted that “there has been minimal activity noted during these past three months and most of the reported new orders have been focused around ship types and tonnage which are more specialized in characteristics and will likely be focused over specific trades and projects. With all freight markets now showing little to no positive movements it is unlikely that we will see a quick comeback from potential buyers of newbuilding orders even at the currently prevailing prices being offered by shipbuilders. It looks as though it will be a tough market during the fourth quarter of the year, while noting the volume of slippages and cancellations that have been taking place in the year so far, shipbuilders have been facing troubled conditions on multiple fronts. What will be interesting to see is to what extent we will be able to see further price drops being offered over the coming months, given that most of the shipbuilders out there (even the more prominent ones) will find it hard to further lower their construction costs per vessel and better optimize their operations”, Allied said.
Meanwhile, in a separate newbuilding report, Clarkson Platou Hellas noted that it was “a quiet week in the Newbuilding market with only a couple of orders to report. In Tankers, Doora Logistics Co., Ltd. in Korea are reported to have placed an order at Kangnam Corporation for a single 4,500 DWT Product Tanker for delivery in early 2018. This would be the first tanker order for the Korean naval yard based in Busan. In other sectors, Vard have announced an order for two firm 16,100 GT Ice Classed Cruise Ships from Hapag-Lloyd Cruises GmbH for delivery in 1Q & 4Q 2019. The hulls of the vessels are scheduled to be built at the yard’s Tulcea facility in Romania and the vessels will be finished and delivered from Vard Langsten in Norway and will carry 240 passengers”, said the shipbroker.
In the S&P markets meanwhile, VesselsValue noted that “7 sales have been concluded within the Bulker market this week. A single Panamax the Toro Orient (76,600 DWT,2008, Imabari) sold for USD 8.9 mil pushing down mid 2000 Panamax values. Only one Supramax sale was concluded this week, the Heroic (57,000 DWT, 2012, Zhejiang Zengzhou) was sold for USD 7.8 mil. This sale pushed down modern Supramax values. Within the Ultramax sector Jinhui Shipping & Transportation offloaded the Jin Han (61,400 DWT,2011, Oshima) and the Jin Ming (61,400 DWT,2010, Oshima) for USD 28 mil En Bloc. One Handymax sale to report, the Marguerite (47,300 DWT,2002, Minami Nippon) was offloaded by Yamamoto Kisen to Hind Maritime for USD 4.2 mil. Within the Handy sector, Tsangaris Bros sold the Cape Scott (28,700 DWT,1997, Shin Kurushima Ujina) for USD 2.3 mil to Tsurumi Sunmarine. A single Small Handy the Siam Win (12,500 DWT,2006, Shin Kochi) was sold this week for USD 4 mil. Only one sale to report in the tanker sector, an Aframax the Ce Merapi (105,200 DWT,1996, Namura) was sold by Centrofin for a firm USD 11.1 mil pushing up older Aframax values. It has been another slow week for container sales, a Panamax the HS Bach (3586 TEU,2007, STX Offshore) sold for USD 6 mil which pushed down mid-2000 Panamax container values”, VV concluded.
Similarly, Allied said that “on the dry bulk side, a fairly subdued week, with most buyers having remained fairly inactive during most of August and only now starting their rounds into further inspections and offers on the available sales candidates circulating the market. That’s not to see that buying interest has diminished however, as there has been notable fresh interest being seen and there is a sense that over the next couple of weeks we should start to see the secondhand market liven up again and possibly even drive prices to start to rise once more. On the tanker side, things have been even more subdued then what was seen in the dry bulk market, with the recent freight market drops having caused a serious dent in buyers’ confidence and most seemingly choosing to take a wait and see attitude as the look to see how the market will trend during the next couple of weeks”.
Nikos Roussanoglou, Hellenic Shipping News Worldwide
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