Post USTR Policy: The Newbuilding Ordering Enigma

Newbuilding activity is expected to face a period of transition following the USTR policy decision. In its latest weekly report, shipbroker Banchero Costa said that “in the dry sector Chinese builder Jiangjiang Nanyang contracted an order for 4×40,000 dwt bulk carriers from Yangzijiang Shipping. The price for each newbuild is $30m, deliveries are expected to start in 2027. Japanese shipowners were behind the order of the 2x 40,000 DWT bulk carrier from Hakodate, the price disclosed is around $33,75 mln deliveries are set for Q2 and Q4 of 2028. In the product carrier sector Hyundai Philippines builder contracted an order for 4×115,000 DWT Aframax LR2 from Cido Shpg approximately at $73 million each, for delivery 2027- 2028 and an order of 3×115,000 DWT Aframax LR2 from Nissen Kaikun. In the chemical sector, Jaldhi Overseas has signed a contract for 2×26,000 DWT stainless steel chemical tankers from Asakawa together with a 20,000 DWT stainless steel from Fukuoka Shipyard. No price was indicated for this deal but all of the units are due to be handed in 2027”, the shipbroker said.

Source: Banchero Costa

Meanwhile, “in the gas sector, Nieto Trading ordered 2x LPG 45,000 cu.m. vessels to Hyundai Mipo. The price disclosed is around $81,3 mln each, but delivery is set for Q4 of 2027. Hanwha Ocean secured an order of 2 x 320,000 dwt VLCC dual fuel LNG ready from the Swiss company Advantage Tankers. The price for each vessel is reported to be $126,5 mln and deliveries are set in 2027 and stretch across the 2028. In the container sector Chinese yard Jiangsu Qifeng secured an order of 5 x 1138 TEU LNG dual fuel feeders from the Chinese company Jiangsu Lyhang Logistics, with the option of one more vessel. The price was not disclosed, but deliveries are set to start in mid-2026 and finish during mid-2028”, Banchero Costa noted.

Meawnhile, in the S&P market this week, shipbroker Xclusiv noted that “on the Panamax sector, the “Ivestos 6” – 77K/2006 Imabari was sold for USD 9 mills. The Supramax “Imke Selmer” – 56K/2011 IHI was sold for USD 14.9 mills to Vietnamese buyers. On the same sector, Turkish buyers acquired the “Delphi Ranger” – 54K/2009 Taizhou Kouan for USD 10.3 mills. Last but not least, the OHBS Handysize “IVS Knot” – 33K/2010 Kanda was sold for low/mid USD 11 mills to Chinese buyers, while the OHBS “Magique Marline” – 32K/2009 Kanda found new owners for low/mid USD 11 mills. On the VLCC sector, the “Landbridge Wisdom” – 308K/2020 Dalian and the “Landbridge Glory” – 308K/2019 Dalian were sold enbloc for USD 205 mills to clients of Asyad shipping. The Aframax “Jinjiang Experience” – 113K/2009 New Times changed hands for USD 33.5 mills. Finally, the MR2 “Tamiat Navigator” – 47K/2010 HMD was sold for USD 18 mills”, the shipbroker concluded.

Source: Xclusiv

Similarly, Banchero Costa added that “in the bulk sector, SEA PLUTO 81,000 dwt 2013 New Times built (SS due Nov 2028 and DD due Nov 2026) was reported sold at $16.50 mln. to Greeks interests. IVESTOS 6 76,596 dwt 2006 Imabari built (SS due Jan 2027 and DD due Nov 2025) was sold to undisclosed interests at $9 mln. NORD MAMORE 64,050 dwt 2020 Mitsui Chiba built (SS due Mar 2030 and DD due Dec 2027) was reported sold at $30.60 mln. to undisclosed buyers. For comparison, NORD MAGELLAN 63,000 dwt 2020 Iwagi Zosen built was sold during January at $29.2 mln. Chinese interests were behind the purchase of SPAR CAPELLA 58,000 dwt 2011 Yangzhou built (SS and DD due Jan 2026) reported sold at $11.40 mln. AVIGATOR 53,806 dwt 2002 New Century built (SS due Aug 2025 and DD due Nov 2027) was reported sold to Chinese interests at low $6 mln. IVS SUNBIRD 33,399 dwt 2015 Shin Kochi Jyuko built (SS and DD due Sep 2025) was reported sold to undisclosed buyers at $17 mln. IVS KNOT 33,143 dwt 2010 Kanda Kawajiri built (SS and DD due Aug 2025) was reported sold at $11.50 mln. to undisclosed interests. MAGIQUE MARLINE 32,216 dwt 2009 Kanda Kawajiri built (SS due Jan 2029 and DD due Jan 2027) was sold to undisclosed interests at $11.50 mln. For comparison, the sistership PNOI 32,282 dwt 2009 Kanda Kawajiri built was sold in mid-March at $11.20 mln. In the tanker sector, LANDBRIDGE WISDOM 308,000 dwt 2020 Dalian built and LANDBRIDGE GLORY 308,000 dwt 2019 Dalian built were reported sold en-block at $205 mln. to Asyad Shipping Westport Tankers was behind the purchase of TOKYO SPIRIT 149,996 dwt 2006 Universal built (SS and DD due Apr 2026) reported sold at $29 mln. GULF ELAN 46,894 dwt 2007 Hyundai heavy built (SS due Jan 2027 and DD due ) was reported sold at $16 mln. to undisclosed interests. In the container sector, the three sistership MSC JAMBOREE IX 8,814 teus 2010 Daewoo built, MSC JUBILEE IX 2009 built and MSC JAVELIN IX 2009 built were reported sold en-block to undisclosed buyers at $75 mln”, the shipbroker concluded.
Nikos Roussanoglou, Hellenic Shipping News Worldwide