Newbuilding activity in the shipping market is experiencing a noticeable slowdown, as highlighted by recent reports. Shipbroker Xclusiv has provided insights into transactions occurring in the sales and purchase (S&P) market. For instance, two Capesize vessels, the “Mount Song” and the “Mount Austin,” both built in 2010, were sold for USD 27.5 million each to Chinese buyers. The Ultramax sector also saw transactions, including the “Kmarin Oslo,” which sold for USD 22 million.
The Ice Class Supramax “Federal Lyra,” constructed in 2014, changed hands for USD 18.5 million. In the Handysize segment, the newly built “Seastar Merlin” was sold for USD 34 million, with a delivery scheduled for May 2025. Other noteworthy sales include the “Jaunty Jenny” and several Aframax vessels, which were part of a larger portfolio purchase by WYW Marine. Banchero Costa provided additional context on dry bulk vessel sales.
The “Mount Song” was sold for USD 27.5 million, while the “Bulk Northville” went for USD 21 million. Comparatively, sister ship sales reveal fluctuations in pricing, such as the “Nordboen Sun,” which was sold for USD 23.5 million just a few months prior. The Panamax segment also saw multiple transactions, with the “Saldanha” selling for USD 8 million and the “NAVIOS Asterikis” changing hands at an undisclosed price. In another notable transaction, Indonesian interests acquired the “Federal Lyra” for USD 18 million.
Overall, the current state of the newbuilding market shows a mix of activity and quieter segments as stakeholders navigate the evolving economic landscape.