The undeniable trend in the newbuilding markets so far in 2013 has been the continued shipowners' "appetite" for Capesize dry bulk carriers and various types of product tankers, mainly Medium-Range ones (MR). According to the latest report from shipbroker Clarkson Hellas, "this week has been somewhat quieter than the last, nevertheless the newbuilding market has remained buoyant with continued ordering across all major sectors and ongoing focus on Capesize within the Dry market and MR and LR2 in Wet. Following the significant ordering levels seen so far this year in particular in these sectors, over 50 firm Capes and close to 20 firm LR2 orders, remaining capacity for 2015 is scarce with the majority of yard now looking towards 2016 delivery. That said, with market pricing at historically low levels, key yards now appear to have satisfied the minimal level of ordering to maintain production for at least the next 24‐30 months, and we see less of a drive currently to push 2016 deliveries. This could give the shipyards in the East some breathing space to hold back from taking low value or loss making orders in the hope that the freight market will improve and newbuilding prices will begin to firm. As we move into the second quarter of 2013 it will be particularly interesting to see whether the newbuilding activity seen so far this year continues, and if so whether this is driven by increased demand for newbuildings or the yards continuing to offer historically low pricing" Clarkson Hellas said in its weekly report.
In a separate report, Piraeus-based shipbroker Golden Destiny noted that "overall the week closed with 42 fresh orders reported worldwide at a total deadweight of 2,908,900 tons, posting 110% week-on-week increase from previous week, with no reported activity in the gas tanker segment with tankers holding the lion share of this week’s new orders, 52% share against 21.5% share by bulk carriers’ new contracts. In terms of invested capital, the total amount of money invested is estimated in the region of more than $1,08 bn, 24 newbuilding contracts reported at an undisclosed contract price. A hefty amount of money was invested in the tanker and offshore segment with the placement of 22 and 10 new contracts respectively".
According to Golden Destiny, "in the bulk carrier segment, three South Korean shipbuilders have won the construction of nine capesize newbuildings 150,000dwt for Korea Electric Power to service an 18-year coal charter agreement. Four of the 150,000dwt vessels would be built at Sungdong Shipbuilding, three at Hanjin HI and two at STX Offshore & Shipbuilding with delivery scheduled in the period 2015-2018.
In the tanker segment, Scorpio Tankers has exercised its option for two more handymax 37,000dwt product vessels ice class 1A at Hyundai Mipo, South Korea for delivery in third quarter 2014 at a newbuilding price of $31,5mil each, bringing the total to six newbuildings of this class. In the MR segment, Sinokor Merchant Marine proceeded with the construction of additional 10 vessels of 50,000dwt at Hyundai Mipo Dockyard, South Korea. The order is part of Shell’s Project Silver deal with Sinokor; 10 options for 49,780dwt vessels remain from the deal. Delivery is scheduled to be completed by October 2015. The cost is about $30.5M each. In addition, Stena Bulk of Sweden ordered two 50,000dwt vessels at Guangzhou Shipyard, China as exercised option to its eight firm order placed last year. In last, Croatian shipyard Brodotrogir says signed a deal with Arne Blystad’s Songa Shipping of Norway to build two chemical
carriers of 49,500dwt. In the aframax segment, East Med of Greece is said to have placed an order for one 114,000dwt vessel at DSME’s Mangalia, Romania for delivery during the first half of 2015. In the suezmax segment, Delta Tankers of Greece signed a letter of intent for the construction of a 158,000dwt vessel at Hyundai HI, South Korea, including an option for one more vessel" it said.
The shipbroker added that "in the container segment, South Korean Heung-A Shipping Co. Ltd ordered a 1,103TEU boxship at Koykuyo, Japan for about $21,5mil with delivery in 2015. In the offshore segment, Keppel Fels of Singapore said it has secured a repeat order worth $225M from London-headquartered ENSCO. The KFELS B Class jack-up rig, the fourth of its kind in ENSCO’s fleet, will be completed in the first quarter of 2015" the report concluded.