Veson: Bulker newbuilding values at 15-year high
(Posted on 01/06/24)
Values for newbuild vessels of 180,000 DWT are up by c.5.45% from USD 66.09 mil to USD 69.63 mil according to Rebecca Galanopoulos Jones, Senior Content Analyst at Veson Nautical.
Bulker newbuilding values are currently at 15-year high, with increases across all sectors since the start of the year. This is due to a number of factors including strong market fundamentals and increased demand, high steel prices and shipyard costs. Capesizes have seen the most impressive gains with values for newbuild vessels of 180,000 DWT up by c.5.45% from USD 66.09 mil to USD 69.63 mil.
However, the majority of orders in 2024 to date have been split equally between the Panamax and Supramax sectors, each accounting for c.35% of orders placed. With a price difference of just under USD 3 mil apart in value, it is unsurprising that a number of owners have opted for the larger Panamax sector. Panamax Bulker newbuilding values for vessels of 82,000 DWT are currently at USD 40 mil compared to USD 37.26 mil for Supramaxes of 62,000 DWT.
High values have been supported by firm earnings, which have been moving upwards consistently since January. Panamax rates for one-year are currently at around 16,300 USD/Day, up by c.11%, yearon year as disruption in both the Suez and Panama canals have increased tonne mile demand for the Bulker sector, along with improving demand fundamentals from China.
Greek buyers have led Panamax newbuildings in 2024, accounting for c.45% of orders.
Notable new orders include 8 x Panamax Bulkers of 82,000 DWT ordered by Laskaridis Maritime, scheduled to be built at Penglai Zhongbai Jinglu and Hengli Shipbuilding and delivered in 2026, VV value USD 286 mil.
Whereas in the Supramax sector, it is the Chinese who have placed the majority of orders, with a share of c.35%. Notable new orders include 8 x Ultramax Bulkers of 64,000 DWT, ordered by HuaXia Financial Leasing, scheduled to be built at New Dayang Shipbuilding and delivered between 2026-27, sold for USD 34 mil each.
Veson Nautical delivers maritime freight management solutions and are trusted by buyers and sellers of bulk marine freight in every region of the world, Veson solutions are responsible for managing $122 billion in freight traded and moving 6 billion tons in annual trade each year.
Latest News
Posidonia 2026 takes centre stage amid global freedom of navigation challenges
(Posted on 29/05/26)From insurance and risk management to energy transition, digitalisation and maritime security, the Posidonia... Read more
First maritime compliance & prevention-focused organisation, PaS, joins DBCE
(Posted on 29/05/26)Prevention at Sea (PaS), a leading maritime compliance, auditing, and digital solutions provider, has... Read more
NorthStandard reports strong results and strategic momentum
(Posted on 29/05/26)NorthStandard has reported strong financial results, continued strategic progress and enhanced support... Read more
Latest guidance for vessel transit through Strait of Hormuz
(Posted on 25/05/26)Hundreds of vessels remain unable to transit the Strait of Hormuz and, in the event of a return to more... Read more
The Bahamas regains QUALSHIP 21 eligibility
(Posted on 25/05/26)The Bahamas has regained eligibility for the United States Coast Guard’s QUALSHIP 21 programme... Read more
First dedicated STS standard for dry bulk released by INTERCARGO
(Posted on 22/05/26)Ship to ship (STS) transfers are an established part of dry bulk operations, and they are growing. As... Read more
Columbia reinforces commitment to maritime talent
(Posted on 22/05/26)Columbia Group has strengthened its commitment to developing the next generation of maritime professionals... Read more
Jamaica marks 50 years at IMO with call for island states to shape future
(Posted on 22/05/26)The Maritime Authority of Jamaica has marked Jamaica’s 50th anniversary as a member of the International... Read more
Costamare Bulkers logs first profit after Cargill deal removes most legacy trading
(Posted on 14/05/26)Costamare Bulkers Holdings Limited has reported unaudited financial results for the first quarter ended... Read more
NORDEN strengthens fleet with the addition of four Handysize vessels
(Posted on 13/05/26)NORDEN have announced that they have expanded their fleet with the purchase of four dry cargo Handysize... Read more
