More Newbuilding Activity the Norm

Increased levels of newbuilding contracting activity seem to be the norm during 2024 and last week was no exception. In its latest weekly report, shipbroker Banchero Costa said that “the newbuild tanker sector remains busy. Cosco Shipping Energy Transportation (CSET) secured 6 x 307,000 dwt VLCCs (conventional fuel propulsion) at Dalian Shipbuilding Industry. The vessels ...

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Source: Banchero Costa “Dynacom has agreed 4 x 75,000 dwt LR1 tankers to its order at Yangzijiang Shipbuilding in China, with deliveries scheduled for 2028. This brings the total number of LR1 vessels under construction at Yangzijiang for the Greek shipowner to 6, including two units ordered last year, which are set to join Dynacom’s fleet in 2026. While the first two newbuilds were priced at $53 mln each, the latest batch is priced at $ 55 mln per vessel.

In the chemical segment, Hercules Tank Management (HTM) returned to Jiangmen Hangtong Shipyard in China to place an order for 6 + 4 x 7,700 dwt IMO II chemical tankers (twin diesel-electric and battery ready power engines), following the earlier contract for 4 x ‘ultra-spec’ sister ships at the same yard this year. In the gas sector Maran LNG secured a significant deal with Hanwha Ocean for the construction of 2 + 2 x 174,000 cbm (MAN ME-GI dual fuel LNG engine), priced $255.2 mln each.



Deliveries for the firm units expected in 2027”, the shipbroker said. On the other hand, “it was a slow week in the second hand market, with mainly Kamsarmax sales. The CMB PERMEKE 81,000 dwt 2019 Tsuneishi CEBU was reported sold to Greek interest for $ 34 mln.

3 x Chinese Kamsarmax were sold enbloc at auction: CL SINGAPORE, CL TIANJING, CL RIZHAO all 81,000 dwt built 2 x 2016 and 1 x 2015 at Jiangsu Jinling. The total amount of the sale was $ 68 mln. For comparison, in January the TOMINI BRAVERY 81,000 dwt 2015 was sold at $24,5mln.

In the Handysize sector, the ARCTIC OCEAN 36,000 dwt 2010 Samjin was sold at $11.6 mln to Middle East buyers and the YANGZTE GRACE 32,000 dwt 2012 Jiangmen Nanyang went to Far Eastern buyers for an undisclosed price. It was a quiet week in the tanker market with the sale of the Panamax Tanker GEORGIA M 74,000 DWT 2007 built Minami Nippon that changed hands at $25 mln.

In the chemical sector the sale of the GOLDEN YOSA was reported. The unit is 19,701 dwt 2008 built Fukoka, StSt tanks, the price reported $21,1 m”, Banchero Costa said. Source: Xclusiv In a separate report, shipbroker Xclusiv added that “on the Post-Panamax sector, Chinese buyers acquired the “Verdure Wave” – 88K/2005 Imabari for high USD 11 mills.

On the Kamsarmax sector, the “CL Singapore” – 81K/2016 Jiangsu Jinling, the “CL Tianjing” – 81K/2016 Jiangsu Jinling and the “CL Rizhao” – 81K/2015 Jiangsu Jinling were sold enbloc for USD 68.5 mills via auction. The Ice Class 1C Panamax “Golden Diamond” – 74K/2013 Pipavav Defence was sold for USD 17.

5 mills to Turkish buyers. Chinese buyers acquired the Supramax “Nordic BC Kiel”- 56K/2010 IHI for high USD 14 mills. Finally, on the Handysize sector, Greek buyers acquired the OHBS “Nord Copenhagen” – 33K/2012 Kanda Zosensho for low USD 14 mills, while the 2-year-older “Four Otello” – 34K/2010 SPP and “Four Aida” – 34K/2009 SPP found new owners for USD 23 mills enbloc.

On the MR2 Sector, the “Bruno”- 46K/2004 STX was sold and already delivered to Chinese buyers for USD 17.5 mills. The Chemical “JM Sutera 6” – 11K/2010 Yangzhou Kejin changes hands for high USD 7 mills”, the shipbroker concluded.

Nikos Roussanoglou, Hellenic Shipping News Worldwide.