Newbuilding contracting activity rises across shipping sectors
Shipowners are expanding fleets with significant newbuilding orders for tankers and bulk carriers, while secondary market values remain stable amid shifting sector demand.
Newbuilding activity remained robust across the global shipping industry over the past week, with significant contracting recorded in the tanker, bulk carrier, container, and gas carrier sectors. According to a report by Hellenic Shipping News Worldwide, shipbroker Banchero Costa noted that Chinese shipyards continue to capture a substantial portion of this new business. The surge in orders reflects a broad-based expansion of fleets, with shipowners securing capacity across various vessel classes to meet future demand. This trend highlights the ongoing commitment of major market participants to fleet renewal and expansion despite shifting market conditions.
In the dry bulk sector, Yangzijiang Maritime has reportedly contracted four firm and two optional 82,000 dwt bulk carriers at Jiangsu Watts & Engineering, with deliveries set for 2028. Additionally, Eurodry has ordered three 82,000 dwt bulk carriers from Hengli Heavy Industries at a price of approximately USD 37 million per vessel, with delivery expected in September 2029. These contracts follow previous undisclosed orders placed by the same owner at the shipyard earlier in 2026, underscoring a strategic effort to bolster their dry bulk capacity within the coming years.
Tanker contracting also saw notable activity during the period. Liquimar Tankers has commissioned three 157,000 dwt crude oil tankers at Jiangsu New Hantong, with delivery dates spanning from June 2029 to June 2030. Furthermore, Top Ships has ordered four 50,000 dwt tankers from Guangzhou Shipyard International, featuring Ice Class 1A specifications for delivery in June 2029. Emarat Maritime has also expanded its fleet by contracting five 74,000 dwt tankers at Jiangsu Hantong Shipbuilding, priced at approximately USD 55 million each, with the vessels scheduled for delivery between June 2029 and December 2030.
Market analysis from Veson Nautical indicates that while bulker values have remained largely stable, Capesize earnings have experienced a slight decline. Despite this, demand for prompt tonnage remains firm, as evidenced by the sale of the Capesize vessel Pan Advance at a premium. Conversely, the crude tanker market has seen values rise, driven primarily by tight supply in the VLCC segment. This scarcity has prompted buyers to seek alternatives, leading to increased interest in Suezmax vessels as a viable option for managing capital expenditure, with several 2010-built units changing hands at consistent price levels.
The secondary market continues to reflect these dynamics, with various transactions reported across multiple size segments. Older tonnage remains in demand, as demonstrated by the sale of the 2004-built VLCC Southern Emperor. Other notable sales include the Suezmax vessels Achilleas and Maran Poseidon, both of which were traded at similar valuations. As the industry navigates these market movements, the combination of active newbuilding contracting and steady secondary market turnover suggests a sustained focus on fleet management and asset positioning among shipowners, particularly as they balance current earnings volatility against long-term operational requirements.
