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Bulker orders in China proliferate

Dry bulk orders in China are beginning to proliferate – the cheap prices proving too tempting for many.

Chartworld Shipping has placed another kamsarmax order, signing a contract at Penglai Jinglu in northeast China for four 82,000 dwt vessels, due for delivery in 2018 and 2019. The owner also ordered four 82,000 dwt kamsarmaxes at Jiangsu New Yangzijiang in March.

Meanwhile, Torvald Klaveness has extended its existing series at Jiangsu New Yangzijiang, ordering an 83,563 dwt kamsarmax, due for delivery in the final quarter of next year.

Splash reported last week how in recent weeks the gap between five-year-old bulkers and newbuilds has closed dramatically, whereby a secondhand cape is now commanding $32.5m, while a new one can be bought for as little as $40m. For kamsarmaxes, the differential is even tighter – $21m secondhand and just $24m for a newbuild.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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