New Ship Orders Stable

newbuilding market

During the Christmas and New Year holidays, the newbuilding market is quite active. The ship brokerage company Intermodal stated in its latest weekly report that several deals have been reached in the new shipbuilding market at the end of 2022: Japanese shipowners Hisafuku Kisen and Kasuga Shipping each ordered a 40,000-dwt bulk carrier at a unit price of about Oman shipowner Asyad Shipping ordered 22 LNG carriers of 174,000 cubic meters in Hyundai Samho at a unit price of 254.5 million U.S. dollars, which will be delivered in 2026; Japanese shipowner Toyofji Shipping signed a contract with Mitsubishi Heavy Industries An agreement to order two 3,000 CEU LNG powered PCTC vessels at an undisclosed price.

A report by Allied, another ship brokerage company, pointed out that during the Christmas and New Year holidays, the newbuilding market is usually relatively quiet, but it has been quite active recently.It is expected that there will be more orders for dry bulk carriers, mainly concentrated in smaller ships. Recently, the price of newbuildings has been slightly under pressure, which may attract more potential investors in the short term. Oil tanker freight income is relatively high, and it can be expected that the new shipbuilding market at the beginning of next year will be relatively active.

Second-hand boat trading market

Allied said that during the holidays,Second-hand boat trading activity was suppressed.In the dry bulk carrier segment,Handysize ships are more concerned, and the average tonnage of trading ships is 55,000 dwt; Followed by handysize ships, the average age of trading ships is about 13 years, a slight increase compared with last week. At present, the freight rate of Capesize ships has increased, but the second-hand ship market has not yet seen related transactions.

Second-hand oil tanker trading is still active, and the trading objects are mainly small oil tankers, more than half of which are Aframax. This ship type and Suezmax are the sectors that have benefited the most from the recent market changes. The average age of trading ships reaches 15 years.

Intermodal's report shows that the number of second-hand ship transactions is low, and considering the uncertainties in the tanker and dry bulk shipping markets, second-hand ship transactions are expected to remain limited in the first few weeks of 2023. In the oil tanker segment, the 150,581 DWT CRESCENT MOON built in 2004 was sold to an undisclosed buyer for USD 33.5 million. In the dry bulk carrier segment, the 177,173 deadweight ton AQUAHOPE ship built in 2007 was sold at a price of about US million.

Source: Nikos Roussanoglou, Hellenic Shipping News Worldwide