In its latest weekly report on the newbuilding market, Clarksons noted that “market enquiry has been relatively subdued this week with a limited amount of new enquiry as owners are still trying to gauge after their holidays where true value lies in newbuilding after the recent sales activity in the second hand market in both the dry and wet sectors. On the positive side of things it is encouraging to see that for the dry market the BDI has increased in excess of 20% so far this month.
Any further increase in dry activity would very much help the Chinese Yards with fresh orders, as we have discussed previously and being the core product of the Chinese newbuilding market. The larger Korean Yards are no doubt pleased that they continue to take orders and have options declared, thus allowing them to get closer to their year-end targets or in some cases exceed them. It is reported that Samsung are now over their year-end target having secured USD 14.2 Bln worth of business against an annual target of USD 11.5 Bln. Hyundai and DSME are also understood to now be over 80% of their respective year-end targets having taken orders for over USD 16 Bln and almost USD 9 Bln respectively. The story is sadly not so good for the Japanese Yards - with the Yen now trading at below 77 to the Dollar, the Japanese debt rating being downgraded by the ratings agency Moody’s from Aa2 to Aa3 and now today their Prime Minister resigning, we sadly don’t see the currency recovering to a level that the Japanese Yards so desperately need it to, to allow the Yards to competitively quote for export orders” said the world’s largest shipbroker and maritime researcher.
In a separate weekly report, Piraeus-based shipbroker Golden Destiny said that “this week also passed with silent newbuilding business as only 15 fresh orders reported worldwide at a total deadweight of 851,800 tons, posting a 20% week-on-week decline with subdued activity in the tanker segment and some new deals emerged for bulk carriers. This week’s total newbuilding business is down by 68% from similar week’s closing in 2010, when 48 orders had been reported with bulk carriers and tankers being the protagonists of the newbuilding scene grasping 63% and 31% share respectively of the total ordering activity. In terms of invested capital, the most overweight segment appears to be the LNG attracting 90% of the total invested capital, whereas transactions bulk carriers hold this week’s lion share, 47% of the total ordering activity” said Golden Destiny.
It went to mention that in the bulk carrier segment, the kamsarmax vessel type made his appearance again in the newbuilding scene with Chinese player Da Tong Shipping placing one single order in New Times Shipyard for delivery in 2013. Furthermore, South Korean player, Global Marine Finance, has placed an order for two 82,000dwt units in Korea’s Sungdong yard at an estimated price of $35,5mil each for delivery in 2013. In the handysize segment, Qingshan Shipyard in China is said to have won a series of orders from two dry cargo operators, OSL Shipping of Hong Kong and Wilmar International of Singapore for delivery in 2013.
“In the tanker segment, Chinese shipbuilder Guangzhou Shipyard has won a single MR product order for a 48,000dwt vessel by compatriot owner, Huahai Petroleum Transport Co, for delivery in 2013 at an undisclosed contract price. In the gas tanker segment, Colar LNG of Norway has extended its LNG ordering spree by adding two more 160,000 cu.m units in Korea’s Samsung Heavy Industries. The order follows a similar 6 units order placed earlier in the year. It has also confirmed a 170,000 cu.m floating storage and regacification unit to be built in the same yard. All nine units will be delivered in 2013 and 2014.
Furthermore, Korea’s yard Daewoo Shipbuilding and Marine Engineering has won an order for a floating storage and regasification vessel from Excelerate Energy of U.S. at a cost of $280 mil due for delivery in 1Q 2014. In the container segment, a German owner has secured two units order of 3,820 TEU in Chinese yard, Taizhou Catic at an undisclosed contract price for delivery in January and March 2013” concluded the shipbroker.