Risk Aversion Grips the Shipping Industry

Risk Aversion Grips the Shipping Industry
03/07/2019

Ship owners around the world have adopted a risk-aversion policy, which translates to refraining from adding more newbuildings on the global orderbook. In its latest weekly report, shipbroker Banchero Costa said that “there was not much fresh business to report this week for conventional type of ships. In the Japanese dry bulk market Tsuneishi shipyard ordered for their own account a relevant number of ships being Kamsarmax, Ultramax and Handysize. The only foreign order we recorded is for a Kamsarmax for UK based Helikon Shipping (no price nor delivery dates available). Also the tanker sector showed poor levels of activity, the only business done refers to few options declared by Oman Shipping at Daewoo for four VLCC dely from June 2021. In the smaller segment, Japanese owners Nissen Kaiun extended their commitment with Chinese shipbuilders by booking 3 x 19,900 dwt product tankers at Nantong Xiangyu for delivery in 2022, no price available. Niche segment of PCTC saw an order from Japanese Kawasaki Kises and NYK for dual fuel 7,000 ceu PCTC at Imabari and Shin Kurushima respectively (specialist builders in this sector). Estimated cost per ship is around $95 mln; both are fixed on long terms to local Japanese major charterers Toyota”, said the shipbroker.

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