Shipbuilders Struggle in Challenging Market

Shipyards in the major exporting regions all report significant year-on-year drops in new contracting activity.

For new-buildings there is no doubt that the market continues to remain challenging, particularly for the larger and more conventionally orientated facilities, observes Clarkson Hellas in its recent bulletin.

With conventional demand so far being focused primarily on the mid‐sized segments of the market, those yards geared up for the larger spectrum of asset class have found 2012 a struggle.

In terms of reported business:
In dry, it has now finally been reported that clients of Norse Management (UK) Ltd have ordered two option two 82,000 dwt Kamsarmaxes at China’s SWS. It is understood the contracts were actually penned back in June, the pricing is circa USD 27.5-million and the delivery for the firm vessels will be from July 2014.

Zhejiang Yangfan have won some further business, however this time four option two 39k dwt Handysizes for clients of Unishipping, the Netherlands. We understand these vessels will deliver from October 2014 and costing the Owner around USD 23-million per vessel.

The Car Carrier market has again seen further orders with Clients of NYK placing two Mitsubishi designed 7,000 CEU vessels at both Shin Kurushima and Imabari. Both Yards are set to deliver one Vessel in 2014 and the second in the first half of 2015.

In Cruise, clients of Norwegian Cruise Line have placed a one option one order for a 4,200 berth, 163,000 GT cruise vessel at Germany’s Meyer Werft Shipyard in a deal reported to be worth some EUR 700-million per vessel.

Source: Clarkson Hellas S&P Weekly Bulletin