Shipbuilding prices in the global market have shown interesting changes over the past week. Bulk carriers and tankers have been sold at different prices, indicating price stability and strong demand in the market. This report examines the details and recent developments in this area.
Details of Bulk Carrier Pricing
Bulk carriers have generally shown relative price stability over the past week. Recent sales activities in the Panamax and Ultramax categories have been conducted at favorable prices. For example, the Panamax vessel named BW Japan (81,600 DWT, May 2019, Tsuneishi Cebu) was sold to Great Eastern Shipping for $38.25 million, while its actual value is estimated at $36.56 million.
Additionally, the Ultramax vessel named Hull 297 (63,500 DWT, January 2027, Jiangsu Haitong) was sold to an anonymous buyer for $39 million, with its actual value estimated at $37.52 million. Another Panamax vessel named Osaka Star (84,900 DWT, March 2016, Sasebo) was also sold for $34 million to an anonymous buyer.
Price Increases in the Tanker Market
In the tanker sector, prices, especially for VLCC and Suezmax types, have significantly increased. This price rise has occurred due to strong demand from Middle Eastern buyers. The VLCC vessel named Atherina (319,500 DWT, January 2011, Hyundai HI Ulsan Shipyard) was sold for $146 million to an anonymous buyer, with its actual value estimated at $124.74 million. Other vessels such as Kallista (317,400 DWT, February 2010, Hyundai HI Ulsan Shipyard) and Sea Leopard (314,000 DWT, February 2011, Daewoo) were sold for $132 million and $135 million, respectively.
Furthermore, the Aframax vessel named Green Adventure (114,300 DWT, September 2022, COSCO Shipping Heavy Industry Yangzhou) was sold to Minerva Marine for $83 million. This price increase indicates high demand and intense competition in the tanker market.
Finally, Feedermax prices for older vessels have decreased this week. The Feedermax vessel named BLPL Blessing (1,028 TEU, November 2007, Singapore Technologies Marine) was sold for $11 million.
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