Recent trends in the shipbuilding industry reveal a significant shift in newbuilding orders from China to South Korea. The South Korean shipyards are now increasingly favored for orders that were previously dominated by Chinese yards. In the sales and purchase market, several notable transactions occurred this week. According to shipbroker Xclusiv, a Scrubber-fitted Mini-Capesize vessel, the “Jubilant Devotion” (118K, built in 2016), was sold for USD 26.5 million to Alberta clients.
Additionally, Greek buyers purchased a Post Panamax vessel, the “Clemens Oldendorff” (93K, built in 2012), for USD 13.3 million. The Kamsarmax segment saw the conventional M/E “Sea Marathon” (82K, built in 2015) sold for USD 18 million while other significant sales included the Ice Class 1C Panamax “Santa Maria” at USD 10.5 million and the “Miyama” for USD 9.45 million. In the Ultramax sector, the “Nantong Xiangyu Xy134” (64K, built in 2025) fetched high USD 35 million from Greek buyers. Chinese buyers were also active, acquiring the Supramax “Arietta” (56K, built in 2009) for USD 13 million and the “Emmanuel C” (58K, built in 2008) for USD 11.8 million.
On the Handysize front, the “Ansac Green River” (33K, built in 2018) was sold for USD 20 million. Meanwhile, in the wet segment, Xclusiv noted high activity among Chinese buyers in the Very Large Crude Carrier (VLCC) sector, with multiple transactions, including the sale of the “Symphony” (298K, built in 2009) for USD 49 million. Moreover, Banchero Costa reported significant movements within the dry bulk sector, indicating ongoing demand from both Chinese and Greek interests in various vessel types, including Kamsarmax and Handy segments, with prices ranging from USD 7.70 million to USD 37.95 million. Overall, this market activity highlights the dynamic shifts in global shipping interests and the competitive landscape of shipbuilding.