27 February 2023 (Lloyd's List) - NEWBUILDING orders for 22 merchant vessels have been signed in the past week, comprising a combined contract value of some $2.1bn.

The orders comprised five bulk carriers, six boxships, three gas tankers and eight product tankers, with almost three quarters of the contracts, in terms of ship numbers, being placed with Chinese shipyards.

In the dry cargo sector, Greek shipowner Sea Pioneer Shipping Corp is reported by brokers to have contracted three kamsarmax bulk carriers at Japan’s Oshima Shipbuilding, with delivery during 2025.

Evalend Shipping Co is said to have ordered two handysize bulk carriers and a pair of medium range products tankers at China’s Yangzijiang Shipbuilding, also for delivery in 2025.

In the boxship sector, CMA CGM is reported by brokers to have contracted six methanol-fuelled ultra-large containerships from China’s Jiangnan Shipyard, with delivery in 2026. The 16,000 teu ships are of a similar design to six vessels it ordered last May from Dalian Shipbuilding.

While the order has not yet been confirmed by CMA CGM itself, this latest order brings its backlog of methanol-capable containership newbuildings up to 24 vessels. In January, the French container line operator penned an order for 12 13,000 teu neo-panamax ships at South Korea’s Hyundai Samho. 

In the gas sector, Mitsui OSK has ordered a single 174,000 cu m capacity liquefied natural gas tanker from Daewoo Shipbuilding & Marine Engineering Co, while ABGC DMCC, a joint venture between Ahu Dhabi’s Al Seer Marine and Dubai-based BGN International, has contracted one liquefied petroleum gas tanker each from Hyundai Samho and Kawasaki Heavy Industries.  

Strong freight markets have been driving shipowners to order more product tanker newbuildings recently.

This follows minimal ordering activity in the past two years, which has seen the orderbook for crude and product tankers decline to its lowest level seen since the mid-1990s.

Recently reported tanker orders include a pair of scrubber-fitted, long range two ships contracted by Greek shipowner Kyklades Maritime Corp from China’s Cosco Shipping Heavy Industry Yangzhou. 

Vitol and Thenamaris are both said to have ordered two, scrubber-fitted, LR2s each from Shanghai Waigaoqiao Shipbuilding Co.