Newbuilding Market Still Not Overbooked

  • Business & Finance

Newbuilding Market Still Not Overbooked

Despite the overcapacity of ships on the market, which has been a hot topic recently, the newbuilding orders for ships don’t seem to be toning down.

When speaking about bulk carriers, Pan Ocean has placed an order for two firm 207,000 DWT Newcastlemaxes at New Times, with both vessels due to deliver within the second half of 2016, according to Hellas S&P Weekly Bulletin, published on 30 June 2014.

Also in China, Conti Reederei have extended their order for 64,000 DWT Ultramax to a total of 20 vessels by declaring a further eight options. The first in the series will begin to deliver in the early part of next year, with the latest additions for delivery from 2017 onwards.

In the same sector JJ Ugland have announced an order at Imabari for two firm 63,000 DWT Ultramax due to deliver in 2017.

Blumenthal are also understood to have ordered two firm 34,000 DWT Handysize at Hakodate Dock, similarly due for delivery in 2017.

According to the Bulletin, there was just one order to report in tankers; CSBC (Keelung) have contracted a pair of 40,000 DWT Handy Product Carriers with Chinese Petroleum Corp (CPC) due to deliver within the final quarter of 2016.

A spread of orders was reported across the sizes in the gas market. Starting with the largest, GasLog announced an order for two firm plus up to four option 174,000 CBM LNGCs at HHI. The first vessels are planned for delivery in the second half of 2017 with options from end 2017 and into 2018 if declared.

In the midsizes, West Africa LPG have declared an option for one additional 38,000 CBM LPG carrier at Hyundai Mipo, taking the series to two vessels. The first is due for delivery within the end of 2016 and second vessel in
early 2017.

Epic Gas have ordered a third 7,500 CBM LPG carrier at Sasaki in Japan, with delivery in the final quarter of 2016.
Lastly, K-Line have announced two further 7,500 CEU car carriers at Shin Kurushima for delivery in 2017, taking the series to four vessels, the Bulletin concludes.

Hellas S&P Weekly Bulletin, July 3, 2014; Image: continentaltrading

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