Image Courtesy: MOL Greek shipowners placed the highest number of newbuildings so far this year, as these companies ordered a total of 35 new bulkers and tankers since the start of 2017, according to VesselsValue. Globally only 119 orders have been placed. Greece leads the way, followed by the US with 14 new contracts and Singapore on the third place with 10 new ships on orders. Additionally, Norway has contracted eight and the Netherlands six new ships. Greek Chartworld Shipping placed the majority of orders with 14 newbuilding contracts, 12 of which are for bulk carriers and two for tankers. The country’s Enesel SA, TMS Tankers, Capital Maritime and Trading each ordered four tankers, followed by Maran Tankers which ordered three ships of the kind. Additionally, Neda Maritime, Metrostar Management Corp ordered two tankers each, while M Maritime Corp placed orders for two bulk carriers. “Many in the shipping industry are worried that there is an imbalance of supply and demand between the number vessels currently on the water and the amount of cargoes. This situation does not look to improve in the near future as there is just under 66 million dwt of tankers and bulkers to be delivered during the rest of 2017, representing 47% of the current bulker and tanker order book,” VesselsValue informed. Over the last five years, a major source of finance and investment in the newbuilding market came from the private equity sector. Today the preference from the private equity sector is to invest in tonnage already delivered and on the water so that an immediate return on their investment can be realised, according to VesselsValue. This led to a lack of newbuilding finance available and resulted in a gap in deliveries at the major shipyards and therefore increased appetite from them to take orders. “As we progress through 2017, yard capacity has reduced but continued buying demand from the private sector remains. This is one of the major factors that has led to the increase in newbuilding prices over the past 5 months,” VesselsValue said. -Source: worldmaritimenews.com
On the other hand...: Greece wasresponsible for the highest absolute number of ships sold to South Asian shipbreaking yards: 104 ships in total. NGO Shipbreaking Platform Annual Report 2016 listed Greece as number one in World's Worst Shipping Nation followed by China. It may be surprising for a country whose industry is proud of green technology and engineering solutions, but in 2016 Germany was responsible for the worst shipbreaking practices amongst all shipping nations when one compares the size of its fleet to the number of ships broken irresponsibly. German owners, banks and ship funds had a staggering 97 ships rammed up on the beaches of South Asia out of a total of 99 vessels sold for demolition. That not being enough, close to 40% were broken in Bangladesh, where conditions are known to be the worst. Greece wasresponsible for the highest absolute number of ships sold to South Asian shipbreaking yards: 104 ships in total. Since the Platform started to compile data in 2009, Greek shipping companies have unceasingly topped the list of owners that opt for dirty and dangerous shipbreaking. Other major ship-owning countries like Japan and South Korea sent nearly all of their old vessels for breaking in substandard yards on the beaches of South Asia. Chinese ship owners sold 43 of their Chinese flagged end-of-life vessels to domestic ship recycling facilities, for which they receive subsidies from their government, while still dumping more than half of their old ships on beaches. India sold all vessels to beaching facilities, 13 out of 25 were sold to Pakistan and Bangladesh European ship owners are responsible for more than one third of all ships sold for breaking. The total number of EU-owned and/or EU-flagged vessels dismantled in 2016 worldwide were 328: 274 of these ships, representing a jaw-dropping 84% of all European end-of-life ships, ended up in either India, Pakistan or Bangladesh. In terms of tonnage scrapped, European-owned ships thus represented more than 40% of all end-of-life vessels scrapped on the beaches. Out of the 274 European vessels that were beached, only 44 were still sailing under European flag. 19 Europeanflagged vessels swapped their flag to a non-EU flag of convenience just weeks before hitting the beach. The most popular end-of-life flags amongst all vessels scrapped on the beaches in 2016 were Panama, St Kitts and Nevis, Liberia, Comoros, the Marshall Islands and Palau. Palau, St Kitts and Nevis and Comoros are flags that are almost exclusively used by cash buyers at endof-life. source: Marinelink.com
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Image Courtesy: MOL
Greek shipowners placed the highest number of newbuildings so far this year, as these companies ordered a total of 35 new bulkers and tankers since the start of 2017, according to VesselsValue.
Globally only 119 orders have been placed. Greece leads the way, followed by the US with 14 new contracts and Singapore on the third place with 10 new ships on orders. Additionally, Norway has contracted eight and the Netherlands six new ships.
Greek Chartworld Shipping placed the majority of orders with 14 newbuilding contracts, 12 of which are for bulk carriers and two for tankers. The country’s Enesel SA, TMS Tankers, Capital Maritime and Trading each ordered four tankers, followed by Maran Tankers which ordered three ships of the kind.
Additionally, Neda Maritime, Metrostar Management Corp ordered two tankers each, while M Maritime Corp placed orders for two bulk carriers.
“Many in the shipping industry are worried that there is an imbalance of supply and demand between the number vessels currently on the water and the amount of cargoes. This situation does not look to improve in the near future as there is just under 66 million dwt of tankers and bulkers to be delivered during the rest of 2017, representing 47% of the current bulker and tanker order book,” VesselsValue informed.
Over the last five years, a major source of finance and investment in the newbuilding market came from the private equity sector. Today the preference from the private equity sector is to invest in tonnage already delivered and on the water so that an immediate return on their investment can be realised, according to VesselsValue.
This led to a lack of newbuilding finance available and resulted in a gap in deliveries at the major shipyards and therefore increased appetite from them to take orders.
“As we progress through 2017, yard capacity has reduced but continued buying demand from the private sector remains. This is one of the major factors that has led to the increase in newbuilding prices over the past 5 months,” VesselsValue said.
-Source: worldmaritimenews.com
NGO Shipbreaking Platform Annual Report 2016 listed Greece as number one in World's Worst Shipping Nation followed by China.
It may be surprising for a country whose industry is proud of green technology and engineering solutions, but in 2016 Germany was responsible for the worst shipbreaking practices amongst all shipping nations when one compares the size of its fleet to the number of ships broken irresponsibly.
German owners, banks and ship funds had a staggering 97 ships rammed up on the beaches of South Asia out of a total of 99 vessels sold for demolition. That not being enough, close to 40% were broken in Bangladesh, where conditions are known to be the worst.
Greece wasresponsible for the highest absolute number of ships sold to South Asian shipbreaking yards: 104 ships in total.
Since the Platform started to compile data in 2009, Greek shipping companies have unceasingly topped the list of owners that opt for dirty and dangerous shipbreaking. Other major ship-owning countries like Japan and South Korea sent nearly all of their old vessels for breaking in substandard yards on the beaches of South Asia.
Chinese ship owners sold 43 of their Chinese flagged end-of-life vessels to domestic ship recycling facilities, for which they receive subsidies from their government, while still dumping more than half of their old ships on beaches.
India sold all vessels to beaching facilities, 13 out of 25 were sold to Pakistan and Bangladesh European ship owners are responsible for more than one third of all ships sold for breaking. The total number of EU-owned and/or EU-flagged vessels dismantled in 2016 worldwide were 328: 274 of these ships, representing a jaw-dropping 84% of all European end-of-life ships, ended up in either India, Pakistan or Bangladesh.
In terms of tonnage scrapped, European-owned ships thus represented more than 40% of all end-of-life vessels scrapped on the beaches.
Out of the 274 European vessels that were beached, only 44 were still sailing under European flag. 19 Europeanflagged vessels swapped their flag to a non-EU flag of convenience just weeks before hitting the beach.
The most popular end-of-life flags amongst all vessels scrapped on the beaches in 2016 were Panama, St Kitts and Nevis, Liberia, Comoros, the Marshall Islands and Palau. Palau, St Kitts and Nevis and Comoros are flags that are almost exclusively used by cash buyers at endof-life.
source: Marinelink.com