Ship Owners Are Loading Up on Tankers and Gas Carriers
09.26.2022 By Ella Keskin - NEWS

September 26, 2022 [Hellenic Shipping News Worldwide ] – Shipowners’ buying interest towards the tanker and LNG sector has increased considerably, over the course of the past few weeks.


In its latest weekly report, shipbroker Allied Shipbroking said that “given the robust flow of fresh projects coming through as of late, we can argue that newbuilding market remained on a sustainable orbit for yet another week. In the separate sectors, the tanker market appeared more active, which also came relatively inline with the “good” freight market overview of late, as well as, the general improved forward sentiment. On the other hand, this can not be said for the dry bulk sector, where the recent bearish momentum in freight numbers, has derailed buying appetite and sentiment in the market. Notwithstanding this, some fresh orders continue coming to light, but it will take some time, before any form of stability is restored. On the pricing front, things have not shifted considerably as of late and the market remains at multi year high levels across all main sectors”.

In a separate report this week, Banchero Costa said that “gas sector is again leading our NB report. Besides the huge orderbook now completed for Qatar Gas for 151 LNG, new business emerged with Mitsui OSK ordering 3 x 174.000 cbm at Hudong Zhonghua for delivery as of September 2026. All ships are already fixed into long terms to Singapore based company ENN. In the drybulk sector, Huangpu Wenchong firmed and order for a 2 x 85,000-dwt bulkers from Shenhua Zhonghai whilst New Dayang signed a NB contract with Chellship for two x 63,000-dwt ultramax. No price nor specific delivery info emerged on these 2 orders.

In the chemical tanker sector, Xingtong Shipping (stocklisted in China) ordered a 13,000-dwt chemical tanker at Taizhou Maple Leaf with delivery in 2024 at equivalent price of RMB 163 mln. The PCTC market is also pretty firm with major owners booking three x 7,000-ceu dual-fuelled PCTCs at CIMC Raffles, the vessels are scheduled for delivery in 2025 with the estimated price at $85m each. Ray Car Carriers also ordered two dual-fuelled 7,500-ceu PCTCs at Hyundai Samho, delivery in 2025 and price of region USD 120 mln”, the shipbroker said.

Meanwhile, in the S&P market, Allied said that “on the dry bulk side, things appeared slightly more fervent as of the past week, given the fair number of transactions taking place. It is evident, that the volatile freight market regime during the past couple of months or so has significantly derailed the SnP market. At this point, the downward correction in asset price levels for some time now, may as well help tightening the spread between Buyers and Seller and result in a more liquid market in the near term. On the other hand, given the general disarray in term of sentiment, we can expect periodical volatility in activity levels to prevail. On the tanker side, as it was rather expected, momentum resumed on a strong trajectory for yet another week, resulting to a further firm flow of SnP deals appearing in the market. At the same time, asset prices still hold an upward momentum. All-in-all, as freight earnings continue on a more firm orbit, we can expect things to gear up further during the remaining part of the year”.

Similarly, Banchero Costa added that “last week’s transactions in the 2nd Hand Market have been mainly focused on tankers. Undisclosed Buyers purchased the M/t Tema 311,620 dwt VLCC Blt 2005 Kawasaki at a price of USD 33.5 mln. Vsl is BWTS fitted. 3 Samsung Blt Aframaxes namely Piper 114,000 dwt, Alba 113.000 dwt and Aristodimos 113,000 dwt Blt respectively 2005, 2005, 2006 have been sold at USD 30 mln, 32 mln, 32 mln.

All vsls are BWTS fitted and Scrubber fitted. Stena Managed to sell on an enbloc deal 3 x Panamax Tankers namely Stena Provence, Primorsk, Performance 65,125 dwt all blt 2005 Brodosplit for USD 60 mln enbloc (USD 20 mln per unit). On bulkers, M/v ASL Grace 60,269 dwt Blt 2015 Onomichi has been reported sold at USD 27 mln, while 2 older Japanese Handymaxes Marv3el 48,893 dwt and Amber L 47,282 dwt Blt 2001 IHI and 200 Oshima have been reported sold at respectively USD 10.5 and 9.5 mln.”

Reported by Nikos Roussanoglou


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