Friday, October 5, 2012

Year-end Order Surge?

Year-end Order Surge?

Shipbuilders having suffered from order drought are expected to welcome year-end order surge for commercial ship, reaching around $5bn, during the fourth quarter.

Chilean owner CSAV is now in progress for newbuilding project for up to 20 boxships (option for 10 vessels included), either 9,000-teu or 10,500-teu. A total of 10 shipbuilders, including Korean Big4, appear to have made a tender.

Newbuilding price is known to reach around $80-85m for 9,000-teu and $90-95m for 10,500-teu.

With a plan to order a series of massive boxships of 18,000 teu or 20,000 teu, United Arab Shipping Company is discussing a mega-boxship newbuilding order with Korean shipbuilders. Overall amount of investment is estimated to be around $1.5bn and UASC seems to secure sufficient financial firepower.

Yang Ming Marine Transport of Taiwan is considering to place orders for about five ultra-large boxships at Korean shipyards within this year.

As for tanker segment, BP Shipping of UK is preparing for awarding 10 aframaxes and five suezmaxes by the end of this year. Market players said Samsung Heavy Industries and STX Offshore & Shipbuilding are competing to win the order.

Also, state-owned owner Kuwait Oil Tanker Co (KOTC) plans to order four medium-range product carriers and three very large LPG carriers.

Published : October 5, 2012

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