S & P

The majority of the activity this week has been concentrated on 90s built Handysize bulk carriers. The Japanese controlled M/V CRIMSON FOREST (31,727 dwt 1999 blt Hakodate) has been sold for US$ 17.75m to Turkish interests, which is in line with last month's sale of M/V ANSAC ASIA (33,945 dwt 1998 blt Kanda) at US$ 17.25m. Indonesian buyers have purchased three sister vessels enbloc, M/V NEW DIAMOND, M/V NEW CONCORD and M/V NEW BARONESS (abt 27,250 dwt 1997/1996/1996 built Hanjin H.I.) for US$ 43.5m including a 3+2 years bareboat charter back to Sellers, clients of STX Panocean, at $7,000 per day. 

On the Panamax sector the M/V MARIA BOTTIGLIERY (75,264 dwt 1995 blt Denmark) reported sold to Chinese buyers at US$ 17m. 

 NEWBUILDING 

The newbuilding market continues to push forward and we have been seeing further reports of new business being concluded. These reports have, as usual, been largely dominated by the container market, specifically with the news this week from Maersk announcing they had declared the first set of 10 options for 18,000 TEU containerships. These are set to be built at DSME, and now brings the total number of vessels ordered in this series to twenty.

As we have discussed before, the Korean yards have had a very successful 1H of the year. The resurgent interest in Containerships, Offshore and LNG markets have seen the major Korean secure much of their forward orderbooks throughout 2013, filling out their earlier capacity and allowing them the future luxury over which projects to move forward on. This is in stark contrast to China, wherein a lack of dry bulk ordering, a staple of the yards orderbook last year, has left many yards with a pressing need to fill their forward production lines. Whilst there have been some notable successes in winning container orders, there remains too much early capacity at both the state and private yards and as such would expect a continued softening of pricing as we move into the second half of the year.

In terms of reported business; In Containers, Maersk have announced that they have declared and signed 10 x 18,000 TEU Containerships at DSME. These vessels were the first set of 10 options the buyer had at the yard and will deliver from 2015 onwards. Jiangsu Rongsheng are reported to have won 4 x 6,600 TEU containerships split evenly between two separate owners, Dynacom and Goldenport with all of these vessels scheduled for delivery within 2013. Lastly in containers, Mitsubishi are reported to have won an order from domestic owner Mitsui O.S.K. and again these ship are due to deliver in 2013.

In Dry, Shenzen Ocean Shipping have ordered 4 x 50,000dwt Bulk Carriers at Guangzhou Shipyard International and 4 x 65,000dwt Bulkers at Guangzhou Huangpu. With all 8 of these vessels due to deliver in 2013. It has also been reported that Weihai Samjin have won an order for a pair of 36,000dwt Handysize bulkers delivering in 1H 2013.

Finally in Gas, Maran Gas Maritime are reported to have ordered 2 option 2 x 159,800 CBM LNG Carriers at DSME with the firm vessels due to deliver in 2014.