Dry bulk carried the week’s volume, tankers delivered its largest newbuilding commitments, and the demolition market moved sideways as monsoon weather and firmer freight kept tonnage away from the beach.
Secondhand tanker activity centred on the Suezmax and MR segments. The sister vessels Alaska and Archangel, both 163,250 dwt and built 2006 at Hyundai, sold en bloc to Chinese buyers at a price in the region of USD 50 million each, with brokers citing figures as high as USD 50.75 million. Both units carry Ice Class 1A notation. In the MR segment, the stainless steel FG Rotterdam, 19,995 dwt built 2012 at Usuki, changed hands for close to USD 22 million, while the older stainless steel Ding Heng 39, built 2008 at Fukuoka and fitted with a scrubber, sold at USD 18.3 million. The Ice Class 1A Minerva Rita, 50,922 dwt built 2005, found buyers at USD 16.2 million, and the 2004-built stainless steel CNC Dream sold at USD 11.5 million.
Newbuilding activity on the tanker side produced the week’s single largest order. JP Morgan contracted Hanwha Ocean for two scrubber-fitted VLCCs at USD 131 million each, for delivery in 2030. Nanjing Tanker booked four MR newbuildings at GSI for USD 45.7 million apiece, specified to Tier III and EEDI Phase III standards with methanol readiness. Zhongnan Shipping added four LR1 tankers at Jiangsu Runyang, price undisclosed, alongside four PCC car carriers at the same yard. In the gas carrier segment, Ciner Shipping confirmed three Very Large Ammonia Carriers of 90,000 cbm at Hyundai Samho, at a reported price of around USD 121 million each.
The Capesize sector produced three separate transactions this week. Aashna, 179,523 dwt built 2012 at HHIC, sold to Chinese buyers at USD 37.5 million. Nicholas G.S, 179,221 dwt built 2010 and fitted with a scrubber, sold at a level in the low to mid USD 34 million range, also to Chinese buyers. Heroic, 182,060 dwt built 2010 at Odense, changed hands at USD 32.8 million.
Ultramax and Supramax tonnage saw the heaviest flow of the week. The sister Ultramax pair Brita Oldendorff and Benjamin Oldendorff, both 62,623 dwt built 2020 at Oshima, sold en bloc at USD 37.5 million each, with one broker citing USD 37.0 million. Meghna acquired the 2019-built CMB Jordaens, 63,447 dwt, for USD 35.2 million. Blue Akihabara, 61,630 dwt built 2014, sold at USD 25.5 million, and Ince Beylerbeyi, 61,429 dwt built 2012, went to clients of ADNOC at a level around USD 22 million. IVS Crimson Creek, a 2014-built Supramax of 57,945 dwt, sold at USD 23.3 million, while the 2013-built HPC Atlantic, 56,064 dwt, changed hands at USD 19.5 million.
Handysize activity was led by Ikan Landuk, an open-hatch box-shaped unit of 37,115 dwt built 2013, which sold at USD 16 million, followed by Lucky Finder, 37,268 dwt built 2009, at USD 13.3 million, and Blue Union Alpha, 28,386 dwt built 2011, at USD 9.65 million. The oldest tonnage to trade this week, the 2002-built Supramax Thor Infinity of 52,383 dwt, sold at USD 7.8 million.
Newbuilding demand for dry bulk carriers remained firm. Greek owner Evalend contracted Tangshan Dajin Offshore Engineering for three firm plus one optional Capesize bulker of 211,000 dwt, at USD 77.5 million each, for 2029-2030 delivery. Zhejiang Group ordered a pair of 64,000 dwt bulkers at New Dayang Shipbuilding, and KC Maritime booked two Kamsarmax units of 63,500 dwt at Jiangsu Soho for close to USD 35 million each. China Merchants placed the week’s largest dry bulk order, six Capesize units of 343,000 dwt at China Merchants Heavy for USD 121.3 million each, plus a further 210,000 dwt unit at the same yard. COSCO added four methanol and ammonia-ready Capesize units of 210,000 dwt at CSSC Qingdao Beihai for USD 80 million each.
Container newbuilding activity was concentrated at Chinese yards. Taiwan’s Yang Ming Marine ordered six LNG dual-fuel boxships of 13,000 teu at Hanwha Ocean, in a price range of USD 185 to 204 million each. Minerva Marine contracted Hengli Shipbuilding for four 6,000 teu units at USD 80 million each, and Erasmus Shipinvest booked two firm plus two optional 1,900 teu units at Huangpu Wenchong for USD 32 million each. On the secondhand side, the 2023-built Feedermax A Goryu of 1,096 teu sold at USD 26.5 million, and the multipurpose carrier Atlantic Navigator II sold to Chinese buyers at USD 12 million.
Subcontinent demolition rates held broadly steady through the week. Tanker sales to India priced in a narrow band, with Seaturbo, a sanctioned 32,230 dwt unit built 2000, fixing at USD 426 per ldt, and Seabass, 32,445 dwt built 2001, at USD 436 per ldt. Bangladesh took the general cargo vessel Isa Trader at USD 475 per ldt and the multipurpose carrier Meili at USD 468 per ldt.
Market conditions across the recycling destinations reflected a mix of seasonal and structural pressure. Alang firmed modestly on tightening steel supply, though the underlying picture stayed soft, with finished steel demand depressed and India’s willingness to accept sanctioned tonnage offsetting its weaker headline pricing. Chattogram slowed further as monsoon flooding disrupted beaching operations, even as underlying buyer appetite for compliant tonnage remained healthy. Gadani held its position, with an ongoing scrap shortage keeping local buyers active despite a scarcity of fresh candidates. Turkey stayed the least competitive of the four destinations, constrained by a weak currency and a thin pool of available tonnage.
