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
DNV and RSI complete study on decarbonising short sea dry bulk fleet
(Posted on 07/08/25)Amid increasing pressure on shipping to achieve the IMO 2050 decarbonization targets, the Responsible... Read more
London P&I Club warns industry over incorrect FIBC loading
(Posted on 04/08/25)The London P&I Club has renewed calls on ship owners, operators and charterers to address potential... Read more
Columbia Group calls for overhaul of maritime training
(Posted on 04/08/25)Columbia Group is calling for urgent reforms in maritime education to address a growing shortage of... Read more
MIS launches as new global media platform
(Posted on 30/07/25)Maritime Information Services (MIS) has officially launched as a global media platform delivering daily... Read more
Russian and Ukrainian seafarers continue struggle with psychiatric fallout of war
(Posted on 30/07/25)Russian and Ukrainian seafarers continue to experience significant psychological strain following the... Read more
Noatum expands global footprint with inauguration of Shanghai office
(Posted on 30/07/25)Noatum Maritime, part of AD Ports Group’s Maritime & Shipping Cluster, announced the official... Read more
Smart Ship Hub emission reporting first through Asiatic Lloyd partnership
(Posted on 21/07/25)Leading vessel optimisation platform Smart Ship Hub has announced its partnership with AL Group &ndash... Read more
KR Representative LEE Jungkun Elected Chair of IACS Safety Panel
(Posted on 21/07/25)KR (Korean Register) has announced that LEE Jungkun, General Manager of KR’s Convention &... Read more
INTERCARGO-member fleets outperform on safety and compliance
(Posted on 17/07/25)Dry bulk carriers entered with the International Association of Dry Cargo Shipowners (INTERCARGO) continue... Read more
NEMO strengthens global role with official status from IMO and IAEA
(Posted on 15/07/25)The Nuclear Energy Maritime Organization (NEMO) is proud to announce that it has officially been granted... Read more
